Taiwanese major lifted December PVC offers to Asia market

It is reported that a major Taiwanese producer has announced fresh PVC offers to Asia market with $20/ton hike from last month. The latest price list stands at $900/ton to India, $860/ton to China and Southeast Asia, all based on CIF/CFR, LC AS term. Export offer stands at $820/ton FOB Taiwan.

The increased is backed by the firming upstream costs, however, the initial response from Southeast Asian players is not very positive. “Demand is not strong here and buyers managed to procure Chinese ethylene-based cargoes at below the $800/ton in the previous week,” an international trader selling to Vietnam informed.

In contrast, Indian buyers are more enthusiastic about making new purchases despite the fact that the latest prices are against initial expectations. “The monsoon season is over and buyers are returning to make replenishment. Stronger ethylene costs are another catalyst for such healthy condition,” an Indian distributor commented. 

It appears that Indian sellers are rather happy to hear about the sluggish demand condition elsewhere in the region, “This means that overseas sellers would become more likely to divert larger quantity to India,” a source added.