Taiwanese major sold out March PVC allocation to India

As market expected, a major Taiwanese producer has announced fresh offers for PVC to India with $40/ton hike from last month, reaching $1010/ton CIF, LC AS term. Indian buyers are very fast reacted to the new prices, accepted to purchase the cargoes without any major discount. The suppliers therefore, reportedly sold out all 20,000 tons allocation to India just few hours after new price announcement.

A trader commented, “Demand is warming up and we think other international suppliers would announce new offers with similar increases. We are feeling optimistic about the near term outlook.”