Taiwanese major slashed November PVC offers to Asia region

It is reported that a major Taiwanese producer has announced fresh PVC offers to Asia for November shipment with an additional reduction from last month. The latest price list sees $60/ton reduction in prices to India to $880/ton and $30/ton to China and Southeast Asia to $840/ton, all based on CIF/CFR, LC AS term.

The downtrend is much in-line with the initial expectation among Indian buyers; however, the extent of the price cut is rather surprising. This is the lowest level since December 2017 and demand in India started to pick up visibly in preparation for the Diwali holiday on 6 November.

“Indian buyers are very active. We have been receiving a high number of inquiries for the past hour. This could be the bottom prices,” an Indian distributor informed.