- Some suppliers decided to postpone April shipment offers
- PVC demand in the Southeast Asia market remains sluggish amid the Coronavirus outbreak
- PVC market in the region will remain subdue in the upcoming months
Based on the data collected by SSESSMENTS.COM’s team, local ethylene-based PVC offers captured moving in a varying direction during March. On the week commencing March 2, a local PVC producer in Thailand decided to increase local PVC offers by THB1,000-1,500/ton ($30-46/ton) compared to February delivery. Likewise, another local PVC producer in Thailand increased March delivery offers by the same amount in the following week on the back of limited supply. While in the Philippines, a local PVC producer decided to roll over March delivery offers despite the increase in international market prices in order to compete with the competitor. However, on the week commencing March 16, the producers adjusted down local PVC offers by PHP1,000/ton ($20/ton) on a weekly comparison due to the slow market amid the Coronavirus pandemic.
In the import market, at the beginning of March, foreign suppliers decided to postpone the announcement for April shipment offers considering the significant drop in crude oil prices. While on the week commencing March 23, Malaysian trader and converter informed SSESSMENTS.COM on receiving April shipment offers from Thai PVC producers at $40-80/ton lower than March shipment. However, on March 26, a Malaysian trader stated that a Thai PVC producer adjusted further April shipment offers by $40/ton compared to the offers announced earlier as the market was muted due to lockdown in the country. Likewise, as informed by a regional trader in Southeast Asia, Indonesian PVC cargoes were sold to the Vietnam market below a fresh threshold level. The deals were concluded at $40/ton lower than the initial offers at $780/ton on LC at sight, CIF Vietnam Main Port basis. Detailed information for Indonesia and Vietnam market is available in MonthlySSESSMENTS of the respective countries.
In general, PVC demand in the Southeast Asia market was sluggish during March due to the slump in crude oil prices coupled with the Coronavirus outbreak. Lockdown in some countries in the region such as Malaysia and the Philippines has led factories to shut or cut production rates. However, on the week commencing March 2, demand from Thai producers’ end was improving and no immediate impact from the Coronavirus issue on the PVC market, SSESSMENTS.COM was told. On the week commencing March 9, a tight supply was reported from Vinythai and SCG on the back of the production issues. While in the production sector, Philippines General Chemical & Resins (GenChem)’s 20,000 tons/year PVC plant was forced to shut after the government announced a lockdown started from March 17 as workers could not reach the factory.
Southeast Asian market players believed that the PVC market in the region will remain subdued in the upcoming months as buyers will halt procurements amid the Coronavirus pandemic. As such, PVC prices are expected to decrease further, SSESSMENTS.COM noted.
Range of local ethylene-based PVC offers between March 2 to March 6, FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)
| Origin | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Philippines | Offer Given | PHP | 56,000-57,000 | 982-1,000 | 90 Days Credit Term | Philippines |
| Thailand | Offer Given | THB | 29,5 | 900 | Cash In Advance | Thailand |
| Thailand | Buy Idea | THB | 29 | 885 | 30 Days Credit Term | Thailand |
Range of import ethylene-based PVC offers between March 2 to March 6 on LC at sight, CIF Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| China | Offer Received | 820 | Malaysia |
| Japan | Offer Received | 880 | Malaysia |
| China | Offer Received | 820-825 | Myanmar |
| South Korea | Offer Received | 890 | Thailand |
Range of local ethylene-based PVC offers between March 9 to March 13, FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)
| Origin | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Philippines | Offer Given | PHP | 56,000-57,000 | 982-1,000 | 90 Days Credit Term | Philippines |
| Thailand | Purchased | THB | 29,000-29,500 | 885-900 | 30 Days Credit Term | Thailand |
| Thailand | Offer Received | THB | 29,5 | 900 | 30 Days Credit Term | Thailand |
Range of import PVC offers between March 9 to March 13 on LC at sight, CIF/CFR Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Delivery Term | Delivery Country |
|---|
| China | Acetylene-based | Offer Received | 840 | CIF | Thailand |
| China | Acetylene-based | Offer Received | 810 | CIF | Malaysia |
| Indonesia | Ethylene-based | Sold | 870 | CFR | Malaysia |
| Indonesia | Ethylene-based | Sold | 870 | CFR | Singapore |
Range of local ethylene-based PVC offers between March 16 to March 20, FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)
| Origin | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Philippines | Offer Given | PHP | 55,000-56,000 | 964-982 | 90 Days Credit Term | Philippines |
| Thailand | Offer Given | THB | 29,5 | 900 | Cash In Advance | Thailand |
| Thailand | Offer Received | THB | 28,5 | 870 | 30 Days Credit Term | Thailand |
Range of import PVC offers between March 16 to March 20 on LC at sight, CIF Main Port basis
| Origin | Product | Transaction Type | Offers (USD/ton) | Payment Term | Delivery Term | Delivery Country |
|---|
| China | Acetylene-based | Offer Received | 810 | LC at sight | CIF | Malaysia |
| Indonesia | Ethylene-based | Offer Given | 820 | LC at sight | CFR | Southeast Asia |
| Japan | Ethylene-based | Offer Given | 830 | LC at sight | CIF | Southeast Asia |
| Taiwan | Ethylene-based | Offer Given | 810-820 | LC at sight | CIF | Southeast Asia |
| Thailand | Ethylene-based | Offer Received | 865 | LC at sight | DAP | Malaysia |
| Thailand | Ethylene-based | Offer Received | 860 | LC at sight | CIF | Malaysia |
| Thailand | Ethylene-based | Offer Received | 860 | TT | CIP | Malaysia |
Range of local ethylene-based PVC offers between March 23 to March 27, FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)
| Origin | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Philippines | Offer Given | PHP | 55,000-56,000 | 964-982 | 90 Days Credit Term | Philippines |
| Thailand | Offer Given | THB | 29,000-29,500 | 885-900 | Cash In Advance | Thailand |
Range of import ethylene-based PVC offers between March 23 to March 27 on LC at sight, CIF Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Delivery Term | Delivery Country |
|---|
| Japan | Sold | 830 | CIF | Southeast Asia |
| Thailand | Offer Received | 830-870 | CIF | Malaysia |
| Thailand | Offer Received | 825 | DAP | Malaysia |
| Thailand | Offer Received | 800 | CIF | Malaysia |
| Thailand | Purchased | 860 | CIF | Malaysia |
| Thailand | Sold | 865 | DAP | Malaysia |
Range of local ethylene-based PVC offers between March 30 to March 31, FD basis, excluding VAT (except in PHP term including 12% VAT, all equivalent in USD excluding VAT)
| Origin | Transaction Type | Currency | Offers/ton | Equivalent in USD/ton | Payment Term | Delivery Country |
|---|
| Philippines | Offer Given | PHP | 55,000-56,000 | 964-982 | 90 Days Credit Term | Philippines |
| Thailand | Purchased | THB | 28,000-28,500 | 854-870 | 30 Days Credit Term | Thailand |
Range of import ethylene-based PVC offers between March 30 to March 31 on LC at sight, CIF Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Indonesia | Sold | 800-820 | Singapore |
| Indonesia | Sold | 800-820 | Malaysia |
| South Korea | Offer Received | 800 | Malaysia |
Range of import ethylene-based PVC offers between March 30 to March 31 on LC at sight, CIF Main Port basis
| Origin | Transaction Type | Offers (USD/ton) | Delivery Country |
|---|
| Indonesia | Sold | 800-820 | Singapore |
| Indonesia | Sold | 800-820 | Malaysia |
| South Korea | Offer Received | 800 | Malaysia |
Tags: Asia Pacific,English,Monthly,PVC,SEA
Published on April 2, 2020 11:03 AM (GMT+8)
Last Updated on September 25, 2020 6:12 PM (GMT+8)
