Post-Diwali outlook for demand under discussion in India
A trader in India commented, “The Taiwanese major sold out its quota in one day, yet we think that this doesn’t reflect the real status of demand in the country since the allocation was mostly purchased by traders, including us. Converters, on the other hand, preferred to wait on the sidelines in line with their expectations to see further decreases in the post-holiday period. We built some stocks as the producer’s November offer was lower than we expected.”
A second trader noted, “The major Taiwanese producer’s November quota to India was 20,000 tons, two times more than October. They sold out their November quota mostly to traders. Many end-users, however, delayed their purchasing activity to the post-holiday period.”
A source from an Indian PVC producer said, “Demand in the local market remains quite poor. We hope that converters will return to the market for replenishing their stocks after the holiday next week.”
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