LATEST NEWS: Taiwanese major lifts July PVC offers to Asia; hike to India surpasses expectations
by ChemOrbis Editorial Team - content@chemorbis.com
A major Taiwanese producer has announced its July PVC K67-68 offers to Asia with price increases for the second consecutive month, supported by rising freight costs. While market participants were broadly anticipating another round of hikes, the sharp increase to India came as a surprise.
For July shipments, the producer lifted its offers by $45/ton to $765/ton CIF India, by $10/ton to $720/ton CIF China, and by $10/ton to $680/ton FOB Taiwan.
“In India, people were expecting an increase from the Taiwanese major, but not such a big increase. The highest expectation that we heard from the market was $30/ton,” said a trader based in India.
The producer’s decision to implement a larger hike for India was mainly attributed to a more than 60% jump in freight rates from China and Taiwan to India over the past two months, which significantly pushed up import costs. The modest increase to China reflected comparatively stable freight conditions and more cautious demand outlooks in the region.
For July shipments, the producer lifted its offers by $45/ton to $765/ton CIF India, by $10/ton to $720/ton CIF China, and by $10/ton to $680/ton FOB Taiwan.
“In India, people were expecting an increase from the Taiwanese major, but not such a big increase. The highest expectation that we heard from the market was $30/ton,” said a trader based in India.
The producer’s decision to implement a larger hike for India was mainly attributed to a more than 60% jump in freight rates from China and Taiwan to India over the past two months, which significantly pushed up import costs. The modest increase to China reflected comparatively stable freight conditions and more cautious demand outlooks in the region.
| Delivery term | July | June | Change | July 2024 |
| FOB Taiwan | 680 | 670 | 10 | 775 |
| CIF India | 765 | 720 | 45 | 980 |
| CIF China | 720 | 710 | 10 | 820 |
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