SSESSMENTS.COM data showed that US PVC cargoes offered below threshold level became widely available in the China market this week. On April 21, a trader based in Shanghai reported on receiving import offers from a US PVC producer at $610/ton, but the supplier indicated the offers were not firm as deals could be concluded below $600/ton. All transactions on LC at sight, CIF China Main Port basis. As the week progresses, more sources reported on receiving offers for US PVC cargoes below $600/ton-threshold level.
On April 22, a Chinese trader sold US PVC cargoes at $590/ton on LC at sight, CIF China Main Port basis for May shipment, provided there is no issue in container availability. Market sources informed SSESSMENTS.COM on difficulties to book vessels from US to China recently, citing limited availability of containers, as such, delay in shipment is common. On the same day, another Chinese trader received import offers for US PVC cargoes at $590/ton on LC 90 days, CIF China Main Port basis for trader’s bag. The trader placed bids at $20/ton lower than the initial level but no response from the supplier. On April 24, the supplier contacted again and offered US PVC cargoes at the same level at $590/ton on the same payment and delivery term. The trader has placed bids at $575/ton, and is currently waiting for the supplier’s confirmation.
According to data collected by SSESSMENTS.COM’s team, there will be around 150,000 tons of US PVC cargoes arriving in China ports. While in total, market talks have it that there will be approximately 300,000 tons of import PVC cargoes arriving in China, including from Taiwan and South Korea. Looking ahead, some sources opined that import PVC prices to China have a possibility to decline further as foreign suppliers become more aggressive.
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