Philippines PVC market is on the positive note and the current trend is expected to last until the upcoming month. A PVC producer in the Philippines contacted by SSESSMENTS.COM revealed that the company has adjusted the offers for August delivery in-line with the PVC price trend in the global market. As compared to the offers for July delivery, offers for August delivery surfaced with an increase of PHP2,000/ton ($40/ton), available at PHP53,000-54,000/ton ($1,073-1,093/ton) on 90 days credit terms, FD basis and including 12% VAT. Despite the increases, buyers are still showing a good response towards the offers and the deals were concluded at the initial level.
On the production front, the company’s PVC plant is running at maximum capacity and employees have already been working full time although public transportations are still limited. Likewise, the production rate at converters in the Philippines is also close to 100%. Citing the improvement in operating rates at converters’ end, the producer foresees that demand for PVC resins would remain healthy until the upcoming month, as stated to SSESSMENTS.COM.
