Indian players: Import PVC might hit the $1000/ton threshold

After a pro-long period of weak buying interest due to the cash crisis stemming from the demonetization, demand in India is coming back, which support the general firming trend.

In fact, despite the impending Thaipusam holiday on 9 February, Indian players appear to be very active in the market at the moment, pointing to the bullish outlook and low availability. For this, market is anticipating new offers from major Taiwanese maker for March shipment to hike $30-40/ton from last month, breaching above the $1000/ton threshold.

A trader in the country commented, “We are not seeing many factors deterring buyers from accepting the new price levels as the monetary issues are receding now. Demand is improving and would continue to advance this track in the coming month.”

Meanwhile, a Taiwanese producer sold PVC at $975/ton (excluding $33.62/ton antidumping duties) CIF India, LC AS term said, “We received a good number of purchase inquiries from India this week and market prospect seems positive.”