A Philippines PVC producer has announced March delivery offers, a producer source informed SSESSMENTS.COM on Tuesday, March 3. For March delivery offers, the producer decided to roll over the local PVC offers from a month earlier, which is in contrast with the international market trend. As stated to SSESSMENTS.COM, the producer’s competitor did not raise their offers as well; hence, the producer needs to follow their pricing strategy in order to compete.
Moreover, demand is reported unsatisfactory. “Usually, March is a good season for PVC in the Philippines market. However, some of our customers are reducing the buying quantity and keep the procurement on a hand to mouth basis,” the producer explained to SSESSMENTS.COM. The producer opined that the market sentiment might be affected by the Coronavirus outbreak and the bearish economic condition at the moment.
Pertaining to the outlook, domestic PVC demand and prices are predicted to move lower in April following the traditional pattern during the Easter Holiday, SSESSMENTS.COM was told.
