Taiwanese major revises June PVC prices downward to India
“The producer implemented an additional decline on their June offers as demand is weak in India with the majority of buyers standing on the sidelines in anticipation of seeing further price relief,” an agent of the producer reported.
A pipe manufacturer reported receiving a $20/ton decrease from the producer at the start of the week, stating, “We are planning to wait as the Taiwanese major is likely to implement additional discounts on their offers in the near term due to disappointing demand ahead of the approaching monsoon season.”
A source from a South Korean producer reported that they issued an additional decline of $20/ton on their June offers following the Taiwanese major’s reduction, bringing their new PVC prices to $930/ton on a CIF India, 90 days deferred payment basis. The source commented, “We heard that the Taiwanese producer has sold out their June quotas in China and Southeast Asia. Hence, they maintain their prices to these regions. However, in India, demand is weak ahead of the monsoon season while many buyers are hesitant to purchase due to the recent reductions. We are willing to give a $10/ton discount for serious buyers.”
In India, overall import PVC prices are currently reported at $916-930/ton on a CIF India, cash equivalent basis.
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