Taiwanese major lifts PVC prices to Asia for February
A trader in India reported receiving an offer for Taiwanese PVC at $770/ton CIF while placing their buy ideas at $700/ton. “We think that the producer attempted a price increase due to their lack of inventory pressure, but we believe that other Asian producers will elect to reduce their prices rather than follow the Taiwanese major’s lead. Demand is not bad, although consumption would normally be a bit higher in January,” the trader stated. Another Indian trader reported receiving new prices from Taiwan at $770/ton, commenting that they believe that this price will prove unworkable and that producer will agree to discounts on deals.
A converter in Vietnam said that they purchased Japanese PVC at $720/ton CIF, adding that they purchased Japanese materials as they found this origin to be more attractively-priced than Taiwanese cargoes.
PVC prices currently stand at $680-770/ton to India, at $710-730/ton to SEA and at $730/ton to China, all on a CIF/CFR, cash equivalent basis.
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