Import ethylene-based PVC offers on LC at sight, CIF Chittagong Port
A global trading house told SSESSMENTS.COM that import PVC offers to Bangladesh changed significantly. Before the Eid Al-Fitr holiday, the trader offered PVC cargoes of US origin between $720-730/ton. At that time, buyers perceived the offers as too high and were reluctant to make purchases. This week, the trader informed that buyers made inquiries and expressed buy ideas at $760/ton. “Even buyers’ buy ideas increased. The level is between $30-40/ton higher than our previous offers,” the trader said.
However, there were no PVC offers below $780/ton to Bangladesh from the trader’s end this week. The trader further informed SSESSMENTS.COM that for July shipment, the leading Taiwanese PVC producer indicated that offers to the Bangladesh market will increase to $825/ton. All offers are on LC at sight, CIF Chittagong Port.
Regarding demand, the trader noted that PVC demand in Bangladesh this week remains weak. Converters are just back to resume production. Nevertheless, the trader believes that improvements will be seen starting next week. “Inquiries and orders will start flowing in next week,” the trader said to SSESSMENTS.COM. As for price outlook, the trader predicts PVC price will remain firm as supported by the firm monomer prices.
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Tags: Americas,Asia Pacific,Bangladesh,English,News,PVC,Taiwan,US
Published on June 3, 2020 1:06 PM (GMT+8)Last Updated on June 3, 2020 1:06 PM (GMT+8)
