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A major Taiwanese producer reportedly announced June shipment offers for PVC with a reduction of $30/ton for India and $20/ton for other markets. Latest price list stands at $940/ton CIF India and at $910/ton CIF/CFR Southeast Asia and China, all based on LC AS term.

Demand in India is weakening, sources here said, due to the monsoon season. “Export allocation is regular this month at 65,000 tons. At the moment, we hope that limited supply from Japan and China would provide some support to the general sentiment,” a distributor said.

In Southeast Asia, buyers are not very active, especially in Indonesia and Malaysia where political condition and the fast approaching Ramadan month are hurting demand. “The price cut is rather surprising as we were expecting a roll-over from last month. Other suppliers might soon follow suit and therefore, we prefer to wait and see in the next couple of trading day,” a regional buyer said.