Offer given for local PVC on cash, EXW China basis and including 13% VAT (equivalent in USD excludes VAT)
Market sources shared updates on the latest PVC price movement and inventory in China to SSESSMENTS.COM. Despite the inventory in East China is piling up, spot offers for both acetylene and ethylene-based PVC increased by CNY30/ton ($4/ton) compared to levels on Friday, April 10. Local PVC prices in China have been on an uptrend since Tomb-Sweeping Day (Qingming Festival) on April 4. Buying sentiment is bullish due to the uptrend in spot and futures prices, but the actual demand remains weak as sales for the end-product are slow amidst COVID-19 spread.
Pertaining to the inventory, market sources informed SSESSMENTS.COM that the domestic inventory continues to pile up while market talks have it that there will be about 70,000 to 100,000 tons of import PVC cargoes from Taiwan, South Korea and Southeast Asia to arrive in China ports at the end of April or early May. As of April 13, the coastal inventory level stood at 484,700 tons, an increase of 1,100 tons from last week’s level. The movement of inventory in South China is the opposite of East China. In South China, the inventory decreased by 4,000 tons to 167,000 tons whereas in East China, the inventory increased by 5,100 tons to 317,700 tons.
Tags: Asia Pacific,China,English,NEA,News,PVC
Published on April 13, 2020 3:47 PM (GMT+8)Last Updated on April 13, 2020 3:47 PM (GMT+8)
