A trader stated to SSESSMENTS.COM that easing of supply hiccup puts a lid on China PVC pricing outlook. On the supply side, acetylene-based PVC inventory in coastal China recorded at 286,000 tons as of Monday, decreased by 2,800 tons. In detailed, the inventory in East China decreased by 3,300 tons, stood at 215,000 tons. Contrastingly, the inventory in South China increased by 500 tons recorded at 7,100 tons. All compared to last week. While in terms of prices, the trader’s offers for local acetylene-based PVC cargoes decreased between CNY50-80/ton ($7-11/ton) from a week earlier.
Coming to this week, the trader revealed to SSESSMENTS.COM that the buying sentiment is rather flat as most producers already finished the maintenance works. Moreover, some import cargoes have started to be unloaded entering the end of June. Considering these factors, the trader opined that PVC will have room to move lower due to the traditional low season as well as the increases in market supply.
