A Malaysian trader informed SSESSMENTS.COM that the company adjusted offers for localized PVC cargoes from China and South Korea. Compared to June, offers for ethylene-based PVC from South Korea and China, as well as acetylene-based PVC from China, increased by MYR350/ton ($81/ton). The offers for these cargoes are at MYR3,700/ton ($862/ton) on 30 days credit term, FD Malaysia basis and excluding 6% SST. The adjustments were made following the market trend although the trader acknowledged that demand for PVC in Malaysia is unable to support price increments. Demand for PVC is slow since price changes for July were too big, the trader commented.
The trader further told SSESSMENTS.COM that PVC cargoes from China were purchased in March and just arrived in Malaysia in June. As of recent, the trader did not make any fresh purchases for China origin as the offers were too high. Similar to the demand for PVC, the trader mentioned that demand for end products is also weak. The trader opined that sales for the end products will continue to be unsatisfactory until the end of the year due to the Coronavirus pandemic.
