Vietnamese producer hikes local PVC offers for Feb
by ChemOrbis Editorial Team - content@chemorbis.com
A source from a Vietnamese producer reported that they have announced February PVC offers to the local market with increases from January, pointing to ongoing tightness in prompt supplies.
The producer raised its local PVC K67 offers by VND1,300,000-1,400,000 ($56-61/ton) from January to VND30,900,000-31,600,000/ton ($1343-1373/ton) on ex-warehouse, cash basis.
The source said, “Regarding our February hike, we haven’t received a strong feedback from buyers so far since they are not willing to build high stocks ahead of the Chinese New Year holidays. They also believe that the current price levels for PVC are quite high.”
“However, tightness in prompt supplies continues since imports have been hindered by the shortage of vessels. We believe that supply will prevent PVC prices from shifting direction at least for the near term,” he added.
On January 12, a major Taiwanese producer increased its February offers to Asian markets by $30/ton from January. This was the ninth consecutive monthly hike from the producer.
The producer raised its local PVC K67 offers by VND1,300,000-1,400,000 ($56-61/ton) from January to VND30,900,000-31,600,000/ton ($1343-1373/ton) on ex-warehouse, cash basis.
The source said, “Regarding our February hike, we haven’t received a strong feedback from buyers so far since they are not willing to build high stocks ahead of the Chinese New Year holidays. They also believe that the current price levels for PVC are quite high.”
“However, tightness in prompt supplies continues since imports have been hindered by the shortage of vessels. We believe that supply will prevent PVC prices from shifting direction at least for the near term,” he added.
On January 12, a major Taiwanese producer increased its February offers to Asian markets by $30/ton from January. This was the ninth consecutive monthly hike from the producer.
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