Local PVC offers moved north in Indonesia

According to market sources, a major domestic producer in Indonesia has announced fresh PVC prices at almost $50/ton increased compared to last month, blaming weaker local currencies to drive such large hike. Latest offers stand at $1060/ton FD Indonesia, cash term.

However, demand does not seem to support any drastic price increment and in fact, traders and distributors are offering discounts to conclude deals. A converter purchased some PVC cargoes in the distribution market at $1020/ton FD Indonesia informed, “Market is very quiet. Our end product business is not seeing improvement as well. Prices at the upper end of the overall price range are facing stiff resistance, therefore, we believed that any upward movement will be limited in the coming month.”