A South Korean prime PVC exporter has sold out February allocation and hinted prices for March shipment to the India market. As informed by the producer’s source to SSESSMENTS.COM, the producer’s February PVC allocations to India market of around 20,000-25,000 tons in total has already sold out since last week. Done deals were successfully concluded at the same level to the initial offer level, at $880-890/ton on LC at sight, CIF India Main Port basis. “Currently, India’s PVC market is in great condition; therefore, most foreign producers managed to close deals at the initial offer level,” the source added.
Further added by the source, since most market players believe that India’s PVC market will remain on a bullish trend; the room for further price increment from local producers remains open. Besides, the discount scheme applied by local producers will be expired by the end of January; hence, local traders will also likely to adjust up their offers. Pertaining to the March shipment, the South Korean PVC exporter hinted price increment of around $20-30/ton from February shipment’s level. Meanwhile, the source foresees that local offers from Indian PVC producers would surface with an increase of $30/ton in USD denomination following the international market prices, SSESSMENTS.COM noted.
Tags: Asia Pacific,English,EN PVC South Korea NSS,Korea,NewsSSESSMENTS,Northeast Asia,Polyvinyl Chloride (PVC) India PVC market,India PVC Prices,PVC pricesJanuary 21, 2020 4:22 PM