Taiwanese major issues Dec PVC prices to Asia

According to traders, a major Taiwanese producer announced their December PVC prices to Asian markets with increases from their November levels. The producer raised their prices by $20/ton to India and by $40/ton to China and Southeast Asia.

Players reported that the producer’s new offers currently stand at $1010/ton CIF India, cash and at $970/ton CFR China/CIF SEA, cash. However, a few players in Southeast Asia claimed that they were able to secure some material from the producer at $950-960/ton on a CIF, cash basis.

In India, PVC players had been at odds for the December announcements as the government’s decision to withdraw the high-value banknotes from circulation had blurred overall expectations.

A trader operating in the country stated, “We are not feeling sure whether the major producer’s new offer level will see acceptance from buyers since the government’s demonetization decision brought trading activities to a halt. Suppliers are looking for ways to divert their cargoes to China as they are struggling to conclude deals in India despite the ongoing supply tightness.”