Taiwanese PVC major expected to come lower for May across Asia
In India, a few sellers stated that the Taiwanese major might approach the Asian markets with a $50-60/ton decrease for May on April 18 after the producer revised its April offers to $1010/ton from the initial levels of $1030/ton.
A trader commented, “We received a $60/ton lower offer from a Taiwanese producer at $940/ton CIF India, cash while South Korean PVC continues to offer a competitive edge at around $970/ton with the same terms. Demand is better when compared to last month and we believe that buyers will start to replenish their stocks if the major producer really cuts its price by $60/ton as expected.”
A source from a Southeast Asian producer stated that Indian buyers are placing bids at around $940/ton CIF, cash. “We are not willing to accept these lower bids as we believe that demand is there. We are not sure if the Taiwanese major will really lower its offers by $60/ton. Our pricing policy for May will be depended on buyers’ reaction to the major producer’s new levels,” he said.
In China, an acetylene based PVC producer also heard that the Taiwanese major may announce its new PVC offers with a $50/ton decrease from April on April 18. A source from the producer noted, “We are keeping our offers stable for the moment and waiting to receive bids from buyers. The May outlook will be clarified once the major producer reveals its offers.”
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