An acetylene-based PVC producer in China informed SSESSMENTS.COM that at the moment, there is no point to adjust export PVC offers due to various reasons. As compared to last week, local acetylene-based PVC offers from the producer captured stable to softer by CNY30-50/ton ($4-7/ton). However, there were no deals concluded so far as buying sentiment remains sluggish since last week. Buyers only procure on an as-needed basis in the midst of traditional low season in demand for the finished products in the China market.
In the export market, the producer maintained PVC offers stable over the week. Current export PVC offers stand at $880/ton on LC at sight, FOB China basis. The producer further explained, there is no point to make a downward price correction on export PVC prices, especially to India market, as one of the export destination countries since the monsoon season has hampered demand for PVC resins. Added to that, the tension between China and India hinders buyers to take China origin materials. While for other markets, as the PVC offers from the producer are deemed unattractive compared to the leading Taiwanese PVC producer’s offers, at the time of publication, no deals were concluded yet, SSESSMENTS.COM noted.
Considering these reasons, the producer mentioned that the company will not have high expectations in demand from the export market for the rest of the year. As for the local market, slow digestion rate will eventually accumulate PVC inventory in China, which predicted to drag down local PVC prices, as stated to SSESSMENTS.COM.
