Indian producer cuts local PVC prices for the fourth time in a month

Following the May shipment offers from international producers that show reductions from last month, a major local maker in India has announced fresh offers at INR2,000/ton ($29/ton) lower than the last price list. This is the fourth consecutive price cut since mid of March, totalling the reduction to INR9,500/ton ($136/ton).

Purchasing interest in India witnessed an uptick in recent days as buyers believed the market is either near to the cyclical bottom or already the bottom, which encourages replenishment. 

“Now that import and local prices are on the same par, customers might return to the domestic suppliers for cargoes. In the meantime, we are monitoring the market movement to gauge the near-term outlook. Besides the General Election, India would exclude some countries from the new anti-dumping investigation starting 12 June,” a market source said.