Taiwanese major slashed August shipment offers for PVC to India

It is reported that a major Taiwanese producer has announced fresh PVC offers to India on the first trading day of the week for August shipment. The latest price list plunged $40/ton from last month to $870/ton CIF India, LC AS term.

Other markets in Asia have yet to receive the new prices, but players are expecting similar reduction as India’s. 

The reduction is rather surprising, as many Indian buyers have been expecting stable to only slightly soften offers from the producers. However, sources said that potentially increased competition following the removal of anti-dumping duties on import cargoes originated from Thailand could have encouraged the producer to aggressively adjust prices to maintain its prominence in the market.     

“Demand is not strong either due to the monsoon season. Customers have not shown strong purchasing appetite and prefer to wait for more offers before making decision,” a trader said.