Tight supplies offset soft ethylene in China’s PVC market
Import PVC prices in China increased $5-10/ton this week on a weekly basis to be quoted at $935-940/ton CIF China, cash basis while spot ethylene prices on a CFR FEA basis are currently reported at around $995/ton.
Meanwhile, in China’s local market, the gap between acetylene and ethylene based PVC prices narrowed this week. Acetylene based PVC prices increased for the last nine consecutive weeks, reaching the highest levels since October 2011, according to average prices on ChemOrbis Price Index. This week, acetylene based PVC was reported within the range of CNY7300-8300/ton ($923-1049/ton without VAT) while ethylene based PVC prices were reported at CNY7700-8300/ton ($974-1049/ton without VAT) with the same terms.
The high ends of both ethylene and acetylene based PVC prices recorded significant increases of CNY400-470/ton ($59-69/ton) while the low end of acetylene based PVC surged by CNY300/ton ($44/ton) from last week. With these significant hikes, the high ends of these two products became equal and acetylene based PVC prices came closer to ethylene based PVC.
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