Taiwanese major to postpone new PVC price announcement

According to market sources, a major Taiwanese PVC producer might postpone new price announce for April delivery to early next week, later than usual schedule. Further price increment remains the centre of the market at the moment, just that the maker might be waiting for Indian buyers to fully come back to avoid any unnecessary resistance, market participant said

An Indian buyer reported, “Most Indian companies in all sizes are rushing with year end book closing and settling annual tax before 15 March. Therefore, new price announcement this week might attract less than expected attention. We were informed that new offers would be opened on 20 March, and hike is very likely.”

There are some resistance observed in India towards prices at the upper end of the overall range, and in spite of that, players are looking at April shipment offers from Taiwanese major at the range $1050-1060/ton CIF India, LC AS term. A trader added, “This level make sense as other Taiwanese producers have already opened prices at $1000/ton CIF India, LC AS term, excluding antidumping duties of about $33.62/ton. Supply is very tight in local India; hence we believed that market might accept the hike.”