A global trading house revealed to SSESSMENTS.COM that supply limitation upholds PVC sales in the India market. According to the trader, the spot market is bustling with activity this week, with several buyers seeking some volume as the availability of spot cargoes remains limited. “Some buyers in India started to stock up, citing limited spot availability since the total arrival of import cargoes in June was limited, only around 43,777 tons, declined significantly from May by 30,231 tons. However, overall domestic demand remains sluggish amid monsoon,” the trader added.
This week, the trader received import offers for ethylene-based PVC from a South Korean producer between $820-830/ton, or at $20/ton lower than offer level available in June. Transactions were successfully concluded between $10-20/ton lower than the initial offer level for a big volume of purchases. The trader pointed out that most buyers were turning to secure some materials from South Korean producers, which is believed lower and more competitive than the upcoming offers from the leading Taiwanese PVC producer. Market talks have it that the leading Taiwanese PVC producer is targeting to roll over their August shipment offers to all markets as the producer is set to undergo scheduled maintenance in August and planning to reduce their allocation, particularly to the India market. SSESSMENTS.COM pricing database noted that July shipment offers from the leading Taiwanese producer emerged in the India market at $840/ton. For Japan origin, current offers for ethylene-based PVC are heard available in the market between $860-870/ton, but done deals are limited. All offers are on LC at sight, CIF Nhava Sheva Port.
