US PVC offers soften on sluggish demand
The softening made itself felt first in the Egyptian market last week with the overall import range losing $15-35/ton in total since then.
A distributor in Cairo reported, “US PVC prices eased down this week. Supplies in Egypt are comfortable. Demand for imports remains slow as players are cautious about their purchases amid softening prices. Moreover, we barely receive inquiries as players are confused about the fluctuating parity and disappointing end product demand.”
A similar trend has been observed in Turkey this week, where buyers are holding onto their existing stocks given slow end product demand. The overall US k67 range in the country softened by $20/ton on both ends week over week.
“Even the prices on the low end failed to attract buying interest despite the discounts this week. Plus, previously secured American PVC cargos in December and January are arriving with some delays,” said a trader.
Meanwhile, some players think that the shutdown at the US Shintech’s plant, which is expected to extend to April, may keep the expected discounts from sellers for this origin in check over the near term.
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