Uptrend persists in China’s PVC market
A Chinese producer applied a CNY200/ton ($30/ton) increase on its local offers at CNY7400/ton on an ex-warehouse China, cash including VAT basis ($941/ton without VAT).
“PVC producers conducted very good sales to the local market as buyers preferred to make purchases in anticipation of higher price levels. As a result of this, PVC inventories moved lower while prices gained further ground. Although we received a good number of inquiries from the export market, we prefer to reserve more allocation to the local market given better profit,” a source from the producer commented.
A second Chinese producer also raised its local PVC prices by CNY200/ton ($30/ton) to CNY7550/ton on an ex-warehouse China, cash including VAT basis ($960/ton without VAT)while their export offers increased by $30/ton to $910/ton FOB China, cash basis.
A Taiwanese producer also raised its August offers to China’s import market by $20/ton to $910/ton CIF, cash basis.
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