A trader based in China informed to SSESSMENTS regarding to the latest PVC offers that the company has given. As of Tuesday, local offers for both acetylene-based and ethylene-based PVC is stable compared to last week. Similarly, market inventory for PVC is also considered steady, “Despite downstream market being soft, PVC producers mostly do not have inventory or sales pressure due to reduced operating rate amidst maintenance shutdowns as well as overly hot weather in South China,” the trader commented.
The source also further explained that due to China Q2 GDP growth slipped to the lowest rate in almost 30 years which was announced on Monday at 6.2%, the data actually reflects the weak condition of the downstream market in China. Looking ahead, the source also stated that there is not the slightest chance of seeing a revival in the near future, unless the government steps up to provide extra stimulus.
