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According to Indian buyers, a major Taiwanese PVC producer has sold out June shipment allocation to the country after rolling over prices from last month earlier this week at $930/ton CIF India, LC AS term.

It is reported that buying interest in India is rather mediocre ahead of the Ramadan and the monsoon season. “However, out principal supplier only has 60 per cent of the regular quantity, or 18,000 tons allocated to India this month, hence, managed to sell out without much hassle,” a distributor commented.

Yet, Indian buyers are having a broad choice of origin at relatively competitive prices including Brazilian, Iranian and Southeast Asian cargoes. A market source informed, “The general sentiment is dampened by the recent plunge in upstream ethylene costs. Traders are introducing different pricing schemes to attract buying interest, yet we are seeing a nudge in buyer reluctance as most cargoes purchased now would arrive right at the beginning of the monsoon season.”

Many have brought up the question over the market outlook in the coming month and few portray optimism. Import PVC to India currently stand in the range $880-945/ton CIF India, LC 0-90 days term for ethylene based.