Taiwanese major announces Nov PVC prices to Asia
The major producer raised their prices by $40/ton when compared to their October levels, bringing their new offers to $930/ton CIF China/Southeast Asia, cash and to $990/ton CIF India, cash.
Players’ initial expectations were calling for more modest increases of around $10-20/ton from the producer. The Taiwanese major lifted their prices by $40/ton for the fourth consecutive month. Their offers have increased by $160/ton since August.
A global trader who affirmed the producer’s $40/ton increase for November commented, “We feel that PVC might see some downward corrections in the near term as prices increased so much in the recent months. Buyers in Vietnam are reluctant to accept even the $880/ton CIF level.”
A seller based in Indonesia stated, “We were surprised with the producer’s $40/ton increase and we feel that they need to lower their offers for December as the market has already started to show signs of a downturn. However, most buyers have to purchase this month as many of them had skipped the month of October in anticipation of seeing lower levels in November.”
A source from a Southeast Asian PVC producer also noted, “Buyers might show some resistance to the producer’s $40/ton increase at first. However, we feel that the market is still able to absorb higher levels.”
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