A Chinese trader informed SSESSMENTS.COM that the market continues to absorb domestic inventory of PVC. From the data shared by the trader, the inventory level of acetylene-based PVC in coastal China recorded at 411,200 tons level as of Monday morning (May 11), down by 18,800 tons. In East China, inventory stood at 293,200 tons, down by 2,800 tons, while in South China recorded at 118,000 tons, down by 16,000 tons. All changes compared the level on last Monday, May 4.
The trader then mentioned to SSESSMENTS.COM that the futures prices rally that occurred since last week has boosted market confidence. In the futures market, September 2020 PVC prices in the Dalian Commodity Exchange increased by CNY155/ton ($20/ton) as compared to the first trading day post-Labor Day holiday (May 6), settled at CNY5,775/ton ($722/ton) by Monday (May 11) settlement. As such, today’s spot offers for local acetylene-based and ethylene-based PVC cargoes from the trader’s end are adjusted up between CNY50-100/ton ($7-14/ton) from last week to test market responses. Likewise, import offers also increased between $10-30/ton as compared to offers at the end of April.
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