US PVC expands market share in China and Turkey in Feb
The visible increases in the market share of American PVC were attributed to the fact that during December, Turkish and Chinese PVC buyers received competitive offers from US suppliers who were trying to deplete their stocks ahead of the year-end book closures.
In addition to US sellers’ efforts to diminish their inventories during the last month of 2016, PVC buyers in Turkey were more interested in US cargoes compared to the rest of the year as they were facing a significant tightness from Europe, the top PVC supplier of Turkey.
A Turkish trader commented, “Demand remains weak despite limited supplies from Europe as buyers had secured plentiful American PVC cargos at the end of 2016 and now we feel that they are counting on their stocks given modest end product demand.” Another trader reported that some previously purchased cargos in December and January have just arrived due to some delays, which keep buyers covered for the time being.
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In China, following an upturn in prices that lasted for more than five months, the sentiment shifted around the beginning of December in PVC markets across Asia due to improving supplies from overseas suppliers, especially from the US. In December, a major Taiwanese producer announced its January prices with a $50/ton decrease given the pressure from competitively priced US PVC cargoes.
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