More Asian producers lifted PVC prices to Malaysia

Malaysian buyers reported to have received more September shipment offers from other Asian producers with $60-70/ton increased from last month, reaching $920-950/ton CIF Malaysia, LC AS term. Buyers are showing stiff resistance though some have expressed the intention to make purchases at the new prices.

A buyer received Thailand PVC offers at $920/ton CIF, said, “Our end product demand is not very strong as property market stall ahead of the general election. We are still having some stock on hand, therefore might skip purchases this time.” 

Another buyer was offered Korean PVC at $950/ton CIF Malaysia, LC AS term added, “We could not transfer the hike to end product prices. Prices are too high and we are talking to Southeast Asian suppliers for some discount to restock a small quantity.”

Major regional producer also reported difficulties they faced in achieving full hike this month as demand is not supporting and buyers only buy hand to mouth basis.