Robust demand for local PVC cargoes in India is reportedly prompted by movements in the import market. A local producer contacted by SSESSMENTS.COM told that current PVC offers from their end stand at INR69,000/ton ($919/ton) on cash, EXW Cuddalore basis and excluding 18% GST. The producer added that there is room for the domestic offers to go up by INR2,000/ton ($26/ton) in the near term ensuing uptrends in import offers this week. Local producers emphasized that the next two weeks are essential for pricing movement before the announcement of benchmark import prices to India by leading Taiwanese PVC producer.
Speaking of the PVC demand, the producer reported that the agricultural sector is the primary consumer; demand from the construction sector has not yet increased due to labor shortage issue which predicted to improve in about a month. From the production side, the producer told SSESSMENTS.COM that the company’s plants were running smoothly at the moment.
The outlook is quite positive from the producer side, SSESSMENTS.COM noted. The price will remain on an uptrend, even until the first half of July, before the monsoon kicks in and temperate the market.
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