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It is reported that demand for PVC in India has been weaker than expected despite the monsoon season has come to an end. Players are awaiting fresh offers from a major Taiwanese producer for November shipment, however, Indian buyers are not expecting any increases. In contrast, many are calling for reduction if suppliers were to stimulate buying interest.

It appears that international suppliers have not completed selling October cargoes to India, market sources said, and discounts are emerging for even small quantity on both South Korean and Taiwanese cargoes. “We do expect a delay in new price announcement given the up-coming Diwali holidays. With the current demand condition, any hike is very unlikely, however, we are monitoring to see if prices could go down,” a trader commented.

Another trader added, “Demand is so weak we are very disappointed. Offers for Russian and Japanese PVC are competitive that other Fareast Asian producer might have to cut prices up to $40/ton in order to attract buying interest. We are on the wait and see mood.”