Local PVC offers on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
A Chinese trader informed SSESSMENTS.COM that the current inventory is bolstering the local PVC market while the export market maintains the status quo. Compared to a week earlier, the coastal inventory for acetylene-based PVC decreased by 34,500 tons, stood at 332,900 tons as of Monday (June 1). In detail, the inventory in East China recorded at 249,900 tons, a reduction of 17,700 tons. While in South China, the inventory decreased by 16,800 tons, stood at 83,000 tons. The trader stated that currently, the spot supply in South China is tighter than the supply in East China. Following the limited availability, the local offers for acetylene-based PVC adjusted higher between CNY50-100/ton ($7-14/ton) from a week earlier. For ethylene-based PVC, the local offers increased between CNY100-200/ton ($14-28/ton) due to the tighter supply compared to acetylene-based as most producers already sold out June allocations in May.
As reported to SSESSMENTS.COM, demand in the domestic market remains satisfactory as the digestion rates for PVC finished products are healthy. However, orders for PVC finished products from the export market remain limited despite slight improvement seen owing to uncertainties in the US market as the main market for the finished products. For the outlook, the trader is unsure whether the finished product orders from the export market will gradually improve or not citing many uncertainties in the US market at present.
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Tags: Asia Pacific,China,English,NEA,News,PVC
Published on June 2, 2020 11:02 AM (GMT+8)Last Updated on September 28, 2020 12:29 PM (GMT+8)
