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Competitive US PVC offers emerge in SE Asia, India

Aug. 31, 2018

In Southeast Asia and India, September PVC prices for mainstream origins continued to be revealed with mostly rollovers from August following initial offers from a major Taiwanese producer. However, the emergence of competitively-priced US PVC offers weighed on the overall sentiment.


In India, the overall range for import PVC k67 prices, including Taiwanese, South Korean, Southeast Asian, Russian, Ukrainian and South African origins, was quoted at $940-990/ton CIF, cash. On a weekly comparison, import prices were stable to $10/ton softer. A trader reported that US PVC k67 offers emerged at very competitive levels of around $870/ton CIF, cash, yet these were not included in the price index. He said, “It seems that US PVC suppliers are turning their attention to other export outlets as trade relations between China and the US are still delicate amid bilateral tariffs.” A Chinese producer cut its offers for acetylene-based PVC k67 by $15/ton, pointing to weak demand from his Indian customers. Inside the country, local k67 prices were stable on the week. “The local market might see some further gains given the depreciation of the rupee against the USD,” a trader said.


In Southeast Asia, the overall range for import PVC k67 price, which mostly includes Chinese and Taiwanese origins, was steady to $10/ton lower on a weekly basis to be quoted at $920-960/ton CIF SEA, cash. A Vietnamese converter purchased Taiwanese k67 at $920-930/ton CIF, cash. “Our deal levels are down by $10-20/ton from the initial offer,” he said. Two Chinese producers rolled over their September PVC offers from August to the region while Indonesian and Thai producers also applied rollovers to slight up or down changes on their new offers. Meanwhile, some Vietnamese buyers reportedly received US k67 offers at/below the $850/ton CIF, cash level. A seller noted, “However, they are not willing to purchase from the US given long shipping durations.” Acetylene-based k67 offers from China also decreased by $5-30/ton from last week to be quoted at $930-950/ton CIF, cash. Demand towards acetylene-based PVC remained tepid, sellers confirmed.


Within the region’s local markets, Vietnamese producers announced their new PVC offers with rollovers to modest hikes from August. “We have followed the footsteps of a Taiwanese major when determining our September pricing policy. Plus, the depreciation of the dong against the USD keeps domestic offers firm,” a producer source said. Regional traders commented that demand was slow in Malaysia and Thailand while it was okay in other countries.


Competitively-priced US PVC offers are expected to keep the market under pressure as buyers may turn their attention to the US despite long shipping durations. The softening in China’s local market and limited demand in India are also cited as other factors behind players’ weak expectations.

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