Taiwanese major lowers Sept PVC prices to India, SEA
A converter in India who reported receiving new offers from the producer commented, “We are not planning to buy yet as we are not feeling confident about the direction of the market.” A trader offering on behalf of the producer in SEA added, “Our supplier reduced their prices as they were not satisfied with their sales. We believe that other PVC producers are also likely to implement price reductions in the days ahead.”
Elsewhere in the region, a source from a Japanese producer stated, “We sold out our allocations last week and are not planning to make any changes to our list prices. We saw normal demand from the market for September and are currently our plant at full rates.” The producer reportedly concluded a deal to the Chinese market last week at $820/ton CFR, cash.
A Chinese producer said that they lowered their prices by $40/ton to $770/ton CIF SEA, cash. “We may consider implementing an additional price reduction following a Taiwanese major’s price cut. Most buyers are keeping to the sidelines for now as they believe that prices still have room to come down.”
Import PVC prices currently stand at $830-835/ton to India, $770-830/ton to SEA and at $820-830/ton to China, all on a CIF, cash equivalent basis.
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