A Chinese acetylene-based PVC producer is putting its new offers on hold on profit margin consideration. The producer disclosed to SSESSMENTS.COM that they have no offers for this week yet and is planning to announce offers later at higher prices in the way of making more profit. As reported, China local and localized PVC prices continued to hike since last week, as such, the producer believes that such a pattern will sustain. Local acetylene-based PVC prices in all China region have increased between CNY100-200/ton ($14-28/ton), while offers for localized ethylene-based PVC cargoes from Thailand and Indonesia went up by CNY200/ton ($28/ton), all compared to last week.
Buying sentiment in China PVC market has been stimulated by the continuous upward movement in the open market coupled with a forecast of supply shortage amid traditional maintenance season at local producers’ PVC plants, SSESSMENTS.COM noted. Throughout maintenance season, the inventory on producers and traders’ hands will be digested gradually. The producer informed that their PVC plants will also be under maintenance shutdown on June for one week, but the exact schedule has yet to be disclosed. More added, the producer foresees a positive outlook for China PVC market from now onwards.
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