Import ethylene-based PVC offers between May 11 to May 13 on LC at sight, CFR/CIF Main Port basis
Description: *Offers on CFR basisA number of sources in the Asia market reported to SSESSMENTS.COM on import US PVC offers that moved in sync and considered attractive compared to other origins, especially in the China market. This week, international prices for PVC cargoes have shown some rebound with no exception for US cargoes. On May 11, a global trading house stated that US suppliers indicated June shipment offers for PVC cargoes to the Bangladesh market would be adjusted higher. One of the US suppliers has quoted prices at $690/ton on LC at sight, CFR Bangladesh Main Port basis, or $10/ton higher compared to the offers available in mid-April. A Bangladeshi trader said that the increment in international prices is a good sign for the company as market sentiment would improve and buyers will be more willing to place orders. However, as Eid Al-Fitr holiday is around the corner, most buyers usually refrain from making purchases. In the Pakistan market, US PVC cargoes emerged with a notable increase of $50/ton on a weekly comparison, with deals closed at $680-700/ton on LC at sight, CFR Pakistan Main Port basis.
In the meantime, a pipe manufacturer based in Vietnam informed SSESSMENTS.COM that offers for PVC cargoes of US origin increased by $30/ton compared to May shipment. Considering the prices that are quite low, the manufacturer decided to buy some quantity at the same level to the initial offers at $630/ton on LC at sight, CIF Vietnam Main Port basis. Besides, the manufacturer assumed that PVC prices apparently will continue to hike onwards. The manufacturer further added that the shipment will be in late May or early June.
In the China market, import offers for US PVC cargoes via a trader went up by $30/ton compared to end-April’s levels. Currently, the offers are available at $620/ton on LC at sight, CIF China Main Port basis. Another trader notified SSESSMENTS.COM that the latest offers for PVC of US origin are the lowest compared to other origins such as South Korea, and Southeast Asia, which mostly still perched at above $660/ton-level. Additionally, market talks have it that localized offers for PVC cargoes of US origin in China also went up by CNY200/ton ($28/ton) on a weekly comparison.
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Tags: Americas,Asia Pacific,Bangladesh,China,English,ISC,NEA,News,PVC,Pakistan,SEA,US,Vietnam
Published on May 13, 2020 4:37 PM (GMT+8)Last Updated on May 13, 2020 4:37 PM (GMT+8)
