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According to market sources, a major Chinese ethylene based PVC producer has slashed offers to Vietnam by $30/ton week on week basis to reach $850/ton CIF Vietnam, LC AS term. Despite the reduction, buyers in the country appear to be lacking of confidence in making fresh replenishment.

A trader in Northern Vietnam commented, “Carbide based PVC prices below the $800/ton threshold are still available at the moment. Domestic prices has softened considerably from last month though it normally high demand season in Northern areas at this time of the year. We are still having some Japanese cargoes on hand and prefer to deplete inventory before making fresh purchases.”