A Chinese trader opined to SSESSMENTS.COM that the number of imported cargoes will determine the local PVC price movement. In comparison to last week, the coastal inventory for acetylene-based PVC recorded at 430,000 tons as of Monday, May 4, decreased by 21,500 tons. In South China, the inventory digested by 13,000 tons, stood at 134,000 tons. While in East China, the inventory recorded at 296,000 tons, a reduction of 8,500 tons. The trader stated that last week, the sales were satisfactory stimulated by the improved buying sentiment. Moreover, some ethylene-based PVC producers who offered at competitive prices already sold a lot of cargoes. However, the main issues persisted as converters still received limited orders from the end-users. Hence, the supply in the local market is still abundant.
Pertaining to the outlook, the trader opined that the movement of local PVC prices will most likely depend on the volume of imported ethylene-based PVC cargoes. “While for the demand, we expect that it will start to pick up in the near term following the relaxation of the Coronavirus lockdown in several countries,” the trader added to SSESSMENS.COM.
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