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Market sources reported receiving fresh PVC offers from a major Taiwanese producer with a sharp reduction of $80/ton month on month basis, reaching $870/ton to Southeast Asia and China and at $930/ton to India, all based on CIF, LC AS term.

The latest price level matches the expectation among Indian players and therefore purchasing activities are anticipated to take place. An Indian trader commented, “Though market has expected such reduction, buyers are still a little shock. Converters are generally more willing to place needed quantity at this price, however we are not expecting aggressive replenishment activities.”