Thai producers offer additional discounts on PVC cargoes to Malaysia

The October shipment offers from major Thailand producers that were announced mid of last week at $50-60/ton drop from last month did not stimulate sufficient demand in Malaysia, buyers here said. As a result, an additional discount of $20/ton is observed and a good quantity has been dealt at $860/ton CIF Malaysia, LC AS term.

It is reported that approximately 2000 tons of Thailand PVC have been sold in Malaysia this week thanks to improved buying interest, as buyers believed that the nine-months low prices could be the cyclical bottom. 

Meanwhile, a Thai producer has not depleted allocation for October and might start seeking new export destinations following higher competition in India market. “We are still having about 20% of the allocation. Local producer in India implemented price protection schemes, making it harder to attract sales here. China market is active but might slow down towards the end of the week. We hope to close more deal in Southeast Asia region,” a producer source informed.