Local producer cuts PVC offers in India

Indian players reported that a major domestic producer has reduced local PVC offers by IDN3000/ton ($46/ton) from last month, following the latest development in the import ground. Demand in India has been sloppy over the past month due to the monsoon season and the implementation of GST, that pressure the general sentiment despite strong upstream costs.

A trader informed, “We hope that buyers would be attracted by the discounts and make replenishment before taking off for the Diwali holidays. Most players are still watching out for further devlopment, hence we prefer to be cautious.”