Leading Taiwanese PVC producer hinted to SSESSMENTS.COM on offers for June shipment and places hope for brighter market conditions. For May shipment, the producer did not sell any cargoes to India market since the market is muted due to the prolonged lockdowns. While for June shipment offers, the producer will be waiting until May 17 where lockdown in India should end if it is not renewed.
Speaking of the demand, sales in China are striking as the downstream market in the country has strengthened with the majority of converters already increasing production up to 70% of total capacity. Reverse conditions occur in the United States; the sluggish housing sector due to the COVID-19 outbreak caused a significant reduction in PVC consumption as one of the primary materials. The producer expressed an opinion to SSESSMENTS.COM that the US market would not improve this year, therefore US PVC suppliers will enter the export market with a competitive offer.
After reviewing the overall situation, the producer said to SSESSMENTS.COM that the PVC market outlook for June shipment is quite bright. "Considering the higher crude oil prices and more businesses reopening across Southeast Asia and India, we foresee higher prices for June shipment," the producer source said.
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Last Updated on May 8, 2020 11:38 AM (GMT+8)