A Japanese PVC producer has sold out all PVC allocation for the first half April shipment to the India market last week. As informed to SSESSMENTS.COM, deals for ethylene-based PVC from the producer concluded at $10/ton lower than the initial offers at $960-970/ton on LC at sight, CIF Nhava Sheva Port. Currently, the producer is still waiting for April shipment announcement from the leading Taiwanese PVC producer before announcing the second half April shipment offers.
The producer hinted a downward adjustment for the second half April shipment offers to India considering the significant decreases in the crude oil prices recently, coupled with the weakening Rupee against the US Dollar. However, no clear plan for the amount of adjustment yet, SSESSMENTS.COM was told.
