This week, PVC prices marched higher in the Asian region.
An industry source in Asia wishing to remain unidentified informed a Polymerupdate team member, "Crude oil prices continue to fluctuate amid rising concerns over intensifying tensions in the Middle East. Meanwhile, rising global freight rates have exerted significantly bullish pressure on polymer prices. Furthermore, end consumer demand for dollar-denominated commodities like crude is likely to be adversely impacted with the US Federal Reserve maintaining a consistently hawkish policy stance and exercising caution with regards to lowering key benchmark rates.”
The source added, “Prices firmed as a major Taiwanese producer raised its offer for June shipment as compared to offers for May shipments.”
In China, PVC prices were assessed at the USD 790-800/mt CFR levels, a week on week rise of USD (+20/mt).
In China, a Taiwanese producer has offered its PVC resin Suspension grade at the USD 795/mt levels for shipment in June 2024.
In Southeast Asia, PVC prices were assessed at the USD 790-810/mt CFR levels, a gain of USD (+20/mt) from the previous week.
In Vietnam, a major Taiwanese producer has offered its PVC resin Suspension grade at the USD 790/mt levels for shipment in June 2024.
In India, PVC prices were assessed at the USD 810-830/mt CFR levels, a week on week increase of USD (+30/mt).
A domestic industry source informed a Polymerupdate team member, “In India, a Taiwanese producer has offered its PVC resin Suspension grades S65D, S65, S60, S70 at the USD 830/mt levels while offering the B57 grade at the USD 850/mt levels on CIF Nhava Sheva/Chennai/Pipavav/Mundra ports basis for shipment in June 2024 (LC at Sight). These offers are higher by USD 30/mt as compared to offers for May shipments. Meanwhile, a producer from South Korea has offered its PVC resin Suspension grade at USD 820/mt levels for shipment in June 2024 (LC at Sight).”
The source added, “Reliance Industries Limited (RIL) has increased PVC grade prices by Rs.2/kg basic, wef May 15, 2024.”
In Pakistan, PVC prices were assessed at the USD 820-870/mt CFR levels, a rise of USD (+10/mt) week on week.
In Pakistan, an overseas supplier has offered its PVC resin Suspension grades in the range of USD 820-870/mt levels for shipment in June 2024.
In Sri Lanka, PVC prices were assessed at the USD 810-830/mt CFR levels, up USD (+10/mt) from last week.
In Bangladesh, PVC prices were assessed at the USD 800-820/mt CFR levels, a week on week rise of USD (+10/mt).
In Bangladesh, an overseas supplier has offered its PVC resin Suspension grades in the range of USD 800-820/mt levels for shipment in June 2024.
Feedstock EDC prices were assessed at the USD 295-305/mt CFR China levels while CFR South East Asia EDC prices were assessed at the USD 315-325/mt levels, both rolled over from last week.
CFR South East Asia VCM prices were assessed at the USD 655-665/mt levels while CFR China VCM prices were assessed at the USD 580-590/mt levels, both stable from the previous week.
Feedstock ethylene CFR North East Asia prices were assessed at the USD 850-860/mt levels, a week on week fall of USD (-5/mt).CFR South East Asia ethylene prices were assessed at the USD 975-985/mt levels, a drop of USD (-20/mt) from the previous week.
In plant news, Kaneka is likely to bring on stream its Polyvinyl chloride (PVC) unit towards end May 2024. The unit was shut in mid-April 2024 owing to power issues. Located in Takasago, Japan, the unit has Emulsion grade PVC capacity of 36,000 mt/year and Suspension grade PVC capacity of 242,000 mt/year.
