Local ethylene-based PVC offers on cash, FD China basis (including 13% VAT in CNY term, excluding VAT in USD term)
Export ethylene-based PVC on LC at sight, FOB China basis
A Chinese PVC producer stated that demand from the export market is getting worse due to the lockdown in several destination countries. As informed to SSESSMENTS.COM, on a weekly comparison, the producer adjusted down local ethylene-based PVC offers by CNY300/ton ($42/ton). Likewise, to the export market, ethylene-based PVC offers were adjusted down between $20-30/ton compared to the same period. Demand-wise, export PVC market demand is sluggish as the lockdown in several destination countries has led buyers to the sidelines. The producer even considers skipping export offers and focus on the domestic market instead.
In contrast, despite the limited deals concluded, PVC demand in the domestic market is better than the export market. The stimulus given by the government has helped the downstream factories to recover. Moreover, most manufacturers in China are currently running at 70% from normal capacity. The producer opined that PVC prices would continue to decrease further on the back of the slow global economy due to the Coronavirus pandemic, SSESSMENTS.COM was told.
Tags: Asia Pacific,China,English,NEA,News,PVC
Published on March 31, 2020 1:22 PM (GMT+8)Last Updated on March 31, 2020 1:22 PM (GMT+8)
