This week, PVC prices displayed a mixed undertone in the Asian region.
An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “A major Taiwanese producer has lowered its PVC offers for December shipments in parts of Asia as compared to previous offer levels given that the overall purchase sentiment in the region continues to be dampened.”
The source added, “Global energy markets were focused on the outcome of a proposed France and US-brokered ceasefire deal aimed at permanently ceasing hostilities between Israel and Hezbollah. Meanwhile, the strengthening of the US dollar coupled with slowing Chinese demand for oil continued to pressure international oil prices lower.”
In China, PVC prices were assessed at the USD 730-760/mt CFR levels, a fall of USD (-10/-20/mt) from the previous week.
In China, a Taiwanese producer has offered its PVC resin suspension grade at the USD 760/mt levels for shipment in December 2024.
In China, demand conditions remained lacklustre, with PVC producers adjusting their export offers separately to stimulate buying activity in the spot market. Going ahead, the downstream construction sector is anticipated to enter a bearish phase with the country heading towards a seasonal winter lull.
In Southeast Asia, PVC prices were assessed at the USD 740-790/mt CFR levels, a week on week decreased of USD (-10/-15/mt).
In Southeast Asia, while buyers deemed the currently assessed price range as viable for them to contemplate the probability of making additional prompt PVC purchases, surplus inventories and lack of significant pickup in regional construction demand kept buyers away from making additional import purchase commitments.
In Vietnam, a producer from Taiwan has offered its PVC resin suspension grade at the USD 790/mt levels for shipment in December 2024.
Meanwhile in India, PVC prices were assessed at the USD 810-830/mt CFR levels, a rise of USD (+10/NC/mt) from last week. A major Taiwanese producer raised its offer levels ahead of an anticipated Anti-Dumping Duty (ADD) implementation in December.
In India, a major Taiwanese producer has offered its PVC resin suspension grades at the USD 810/mt levels, CIF Nhava Sheva/Mundra/Chennai/ ports basis, for shipment in December 2024. These offers are higher by USD 10/mt from last month's offer with USD 30 Extra for CIF Cochin/Kolkata/Pipavav ports basis.
In Pakistan, PVC prices were assessed at the USD 790-820/mt CFR levels, a week on week decline of USD (-10/-20/mt).
In Pakistan, overseas producers have offered their PVC resin suspension grade in the range of USD 790-820/mt levels for shipment in December 2024.
In Sri Lanka, PVC prices were assessed at the USD 800-840/mt CFR levels, lower by USD (-10/mt) from last week.
In Sri Lanka, overseas producers have offered their PVC resin suspension grade in the range of USD 800-840/mt levels for shipment in December 2024.
In Bangladesh, PVC prices were assessed at the USD 800-840/mt CFR levels, a fall of USD (-10/mt) from the previous week.
In Bangladesh, overseas producers have offered their PVC resin suspension grade in the range of USD 800-840/mt levels for shipment in December 2024.
Feedstock EDC prices were assessed at the USD 275-285/mt CFR China levels, while CFR South East Asia EDC prices were assessed at the USD 285-295/mt levels, both rolled over from the previous week.
Feedstock, CFR South East Asia VCM prices were assessed at the USD 605-615/mt levels, while CFR China VCM prices were assessed at the USD 565-575/mt levels, both constant week on week.
Feedstock ethylene CFR South East Asia prices were assessed at the USD 920-930/mt levels, a week on week rise of USD (+5/mt). Ethylene CFR North East Asia prices were assessed at the USD 890-900/mt levels, an increase of USD (+30/mt) from the previous week.
In plant news, Ningbo Hanwha is likely to shut down its Polyvinyl chloride (PVC) plant on December 14, 2024 for maintenance. The plant is slated to remain offline until December 28, 2024. Located in Ningbo, China, the plant has a production capacity of 400,000 mt/year.
