Taiwanese major down-adjusted PVC offers to India

It is reported that a major Taiwanese producer has stepped back on their September shipment offers for PVC to India today by $30/ton from initial prices given last week, bringing latest offers to $990/ton CIF India, LC AS term. This is because the persistent weak demand condition in this market while other Fareast Asian makers have pioneered the cut.

Customers, who have concluded deals in the previous days at higher prices will also be entitled to the price adjustment with a distributor said, “Japanese and Korean suppliers have loosened their stance while we have not heard any announcement from domestic producer. The pressure is building up and here the cut arrive.”

Such movement is expected to cast negative impact on the general market sentiment, in which further price increment for the coming month might become difficult to achieve.