A Japanese PVC producer informed SSESSMENTS.COM that the company has achieved target sales for May shipment. This week, the producer has managed to sell all of the allocations for May shipment to China and Southeast Asia with each region taking 50% of the total allocation. According to the producer source, Japanese producers concentrate on filling the demand from the Chinese market; causing demand from Southeast Asia is not all fulfilled. From the producer’s end, Vietnam was the most absorbent of cargoes for the May shipment, followed by Malaysia.
Deals concluded at $630/ton to China market and $620/ton to the Southeast Asia market, $20/ton lower from initial offer levels to each market. All transactions were on LC at sight, CIF Main Ports basis. The producer source then shared views for the July shipment pricing by saying, "Price is not going to change much; the current level is quite close to the bottom already.” The producer also told SSESSMENTS.COM that the Japanese producers have not lowered their production rate so far.
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