As told to SSESSMENTS.COM, a Japanese PVC producer skipped first half June shipment offers to India market. The decision is intended to give a clearer picture of the market condition amid the prolonged lockdown while waiting for June shipment offers from the leading Taiwanese PVC producer to come out.
The producer also relays information to SSESSMENTS.COM regarding their customers where most manufacturers only run production up to 30-40% of total capacity. The low production rate causes demand to still not appear on the horizon. Despite demand arises, the producer senses that the customers would not accept higher prices for June shipment even though supply will be tight due to maintenance at some Asian PVC plants.
The producer also shared information regarding pending March shipment cargoes. The producer told SSESSMENTS.COM that a lot of shipments are put on hold, waiting for the payment from customers. According to the producer, the main obstacle comes from banking problems that caused delays in payment from customers.
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