An acetylene-based PVC producer in China informed SSESSMENTS.COM that the company adjusted up local PVC offers following the futures price movements. On July 6, local acetylene-based PVC from the producer increased by CNY150/ton ($21/ton) compared to last Monday, June 29 level. However, compared to last Friday’s level, the offers are stable. The producer decided to adjust up the offers following the high futures market prices at the end of last week. Moreover, as the producer managed to sell a big volume to a converter last week, hence, no inventory pressure at the producer’s end at the moment.
To the export market, compared to last week, export PVC offers from the producer are relatively stable. Current offers are available at $810/ton on LC at sight, FOB China basis. While to India, the offers stand at $850-860/ton on LC at sight, CIF India Main Port basis. At the time of publication, no deals concluded yet to India market as the offers could not compete with other suppliers. Moreover, Indian buyers are more reluctant to take Chinese cargoes after the rising tensions between China and India, which sparked the Indian government to delay custom clearance of all products from China. For the outlook, the producer opined that August shipment offers from the leading Taiwanese PVC producer will drop. Likewise, local PVC prices will be stable to softer but the decrease would not be significant, as stated to SSESSMENTS.COM.
