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It is reported that a major Taiwanese producer has announced fresh PVC offers for July shipment to Asia market with $20/ton increased from last month, defying market’s initial expectation for a stable level. Latest price list stands at $960/ton to India and $930/ton to China and Southeast Asia, all based on CIF/CFR, LC AS term.

Initial respond from Indian buyers is rather positive. “We think buyers could easily accept the latest price hike though demand is not at its high. Domestic market is currently much higher than import offers while availability is not there due to the recent production disruption,” a trader said.

Southeast Asian buyers are less receptive as major importers including Malaysia and Indonesia are entering holiday mood. “We have not received the official offers, however, the hike might face resistance in Vietnam. Deals might be rollover from last month given the sluggish purchasing activities and the availability of other competitive origins,” a Vietnamese buyer said.