Upward momentum in India’s import PVC market persists
Limited PVC supplies across the regional markets, healthier demand in India as well as soaring crude oil futures and high ethylene prices in Asia gave an upper hand to sellers to seek further price hikes.
A trader reported that the recent offers they received from a Japanese producer indicate a $20/ton increase on a weekly basis. A second Taiwanese producer also raised its offers by $30/ton to India this week with a producer source noting, “We have been allocating a small volume to the Indian market for the past two days. Our offers are higher and we are testing the market response.”
Another trader commented, “Demand has improved further in India since last week. After the Taiwanese major, a South Korean producer is sold out as well. The market is performing quite well nowadays.”
Meanwhile, according to weekly average prices on ChemOrbis Price Wizard, eight weeks of steady increases in prices have currently pushed the India’s import PVC market to a four-month high.
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