Local PVC offers on cash, EXW China basis (including 13% VAT in CNY term, excluding VAT in USD term)
A China-based trader shared with SSESSMENTS.COM on the current domestic inventory level and feedback on the leading Taiwanese PVC producer’s May shipment offers. As of Monday morning, the trader shared that the total inventories of acetylene-based PVC in coastal China slightly fell by 16,200 tons this week, after it increased for three weeks in a row, stood at 468,500 tons. In South China, the inventory stood at 158,000 tons, down by 9,000 tons. While in East China, the inventory dropped by 7,200 tons, recorded at 310,500 tons. All changes compared to last week’s level.
In terms of prices, the trader rolled over offers for local PVC cargoes this week, with demand in the region remains stagnant. Local acetylene-based and ethylene-based PVC prices from the trader are available between CNY5,450-5,550/ton ($770-784/ton) and between CNY5,700-5,750/ton ($806-813/ton) respectively, a rollover from last Friday’s level. All offers are on cash, EXW China basis and including 13% VAT. Moving to import market, the leading Taiwanese PVC producer announced May shipment offers to China market at $660/ton on LC at sight, CFR main port basis. In response, the trader regarded the prices to be not workable in the China market, citing that $610-620/ton-level will be more reasonable. “Despite producers and traders are actively offering in the market, demand is not giving any signs of recovery as buyers only source in small quantities amid market uncertainty,” the trader explained to SSESSMENTS.COM.
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Tags: Asia Pacific,China,English,NEA,News,PVC
Published on April 20, 2020 6:45 PM (GMT+8)Last Updated on April 20, 2020 6:45 PM (GMT+8)
