Taiwanese major down adjusted PVC offers to Vietnam

According to market sources, a major Taiwanese producer has implemented further price reduction on January delivery PVC cargoes to Vietnam this week after slashing as much as $50/ton in the previous week. Latest offer stand at $880-890/ton CIF Vietnam, LC AS term, some $30-40/ton below initial prices, totalling a $80-90/ton drop from last month.

Players in the country are surprised with such rapid reduction with a compounder informed, “Couple of traders are selling even below the price list due to bearish outlook in the coming month. We are covered until early March 2017, therefore we are not eager to make replenishment.”

Import PVC to Vietnam currently stand at $860-900/ton CIF, LC AS term.