Indian producer lifted local PVC prices

According to market sources, a major local producer has announced fresh PVC offers to local buyers with INR1000/ton ($16/ton) increased from last month. The upward pressure arrive due to multiple factors including the lack of supply from USA, Iran and China while upstream costs have been surging to multi months high levels.

The hike, however, is smaller than market initial expectation and the impact on the general sentiment has yet to show. “The price increment shall take effective from tomorrow, 14 September, and we think buyers would be more active in making replenishment,” a trader commented.