A Chinese PVC producer voiced out to SSESSMENTS.COM that China anti-dumping duty on US PVC cargoes will benefit local and other foreign suppliers. Previously, the Chinese PVC association has initiated a petition on anti-dumping duty (ADD) and countervailing duty (CVD) against imports PVC of US origin on April 17, 2020. The new law for anti-dumping duty tariffs currently under review from the Chinese government and expected to be imposed in the next 160 days starting from June 1. However, with the tensions between China and US intensifies, news tariffs might be announced sooner than expected. The producer opined that local and other foreign suppliers will gain benefit once the government has started to impose the tariffs as the competition will be less.
In terms of pricing, this week, local acetylene-based PVC offers from the producer remain stable compared to last week and stand at CNY6,350/ton ($896/ton) on cash, EXW China basis and including 13% VAT. While for the export market, no fresh offers for acetylene-based PVC cargoes given by the producer yet. However, as stated to SSESSMENTS.COM, the producer plans to roll over the offers from last week. Demand-wise, PVC demand in the domestic market remains healthy. Still, buying sentiment is flat as most buyers only make procurements on a hand-to-mouth basis after stocking up enough materials in the previous month.
