Taiwanese major introduced large hike on March PVC offers

A major Taiwanese producer reportedly announced fresh PVC offers for March shipment to Asia market with $60/ton increased from last month, to $1020/ton to India and $970/ton to China and Southeast Asia, all based on CIF/CFR, LC AS term.

The hike is larger than initial expectation, just yet Indian buyers seems to be willing to accept the latest prices due to improving demand condition and limited supply. It is heard that the producer only have approximate 20,000 tons of cargoes allocated to export market this month, which is one-third of the regular quantity, however this information is not confirmed at the time this report is published. “Couple with the lack of supply from local market and other international producer, we have no doubt that market would accept the hike,” an Indian trader informed.

Meanwhile, demand in Southeast Asia is dropping fast with major market such as Indonesia are entering heavy monsoon season while Vietnam is about to off for the long Lunar New Year holiday.