Carbide based PVC inched higher in Vietnam, buyers shied away

It is reported that a major Chinese carbide based PVC maker has up-adjusted PVC offers to Vietnam by $20/ton today, just a day after announcing January shipment offers at $830/ton, CIF Vietnam, LC AS term.

Buyers are not responding very positively towards the move despite the maker’s immense effort in highlighting the lack of supply and improved demand condition in both China and India markets.

A distributor informed, “Our customers are withdrawing to the sideline to evaluate the purchases. Competition is fierce as ethylene based PVC cargoes from other origins are offered at the same level.”

It is widely perceived that the international PVC market has reached the bottom, in line with the up-coming high demand season in the region’s largest PVC importer – India and limited supply from China. Pipe makers in Northern Vietnam are enjoying healthy demand of end product, “Just yet, suppliers are too aggressive. We plan to make additional buy for February stock provided the sellers agree to some discounts,” a converter said.