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It is reported that a major Taiwanese producer has announced fresh offers for PVC to India market today with $60/ton increased from late last month, reaching $1050/ton CIF India, LC AS term. Other market has not received the new prices.

Demand for PVC in India remains relatively weak and sentiment sees little movement despite the recent shutdown at USA’s Formosa Plastic Corp and Oxy Vinyl due to Harvey tropical cyclone. A trader informed, “There is no buying interest for such high prices, but this move sets the tone for the general sentiment in October.” The source added that Iranian PVC is still available at $930/ton CIF India, LC AS term.

Another distributor added, “Buyers are not responding to the latest offers and we think it is hard for the maker to achieve full hike this time too. Demand is not strong and unless local producers adjust offers up, buyers would only source need cargoes domestically.”