Indian PVC marker cut local prices amid soft demand

Indian players reported to have received fresh PVC offers from a major domestic producer at INR3000/ton ($46/ton) reduction from last month, which market attributed to the persistent weak demand as the main cause.

A trader added that the price cut bring local PVC offers to around $965/ton EXW India, excluding VAT and excise tax, cash term – a level that is more competitive than import offers from Fareast Asian producers at the moment. The source said, “Depending on the purchasing volume, buyers might be able to obtain additional discounts. Therefore, it is very hard for international suppliers to compete in India this time.”

Buying interest in the country surprisingly remain soft, market players said and a number of buyers are expecting overseas suppliers to match the recent price cut from domestic suppliers for May delivery cargoes.