Price Announcement From The Leading Indian PVC Producer Encourages Other Sellers To Adjust Local PVC Offers
- Local PVC offers adjusted up by INR1,000/ton ($14/ton)
- PVC demand in India remains on a soft note this week
- The possibilities of upward adjustment for March shipment’s offers is thin
As reported to SSESSMENTS.COM, price announcement from the leading Indian PVC producer has encouraged other sellers to adjust PVC offers. In the domestic market, the leading Indian PVC producer has announced prices and discount schemes with effect from February 1. The producer decided to increase local offers by INR1,000/ton ($14/ton) and withdrew the discount scheme for January. For February, a discount between INR500-750/ton ($7-10.5/ton) is applicable for purchases of 8.33% above the annual procurement plan quantity. Following the footsteps of the producer, localized PVC offers of Taiwan and Thailand origin from traders and distributors adjusted up by INR1,000/ton ($14/ton). However, some buyers showed resistance towards the offers; hence, concluded deals remain limited. In the import market, PVC cargoes of Ukraine origin increased by $10-20/ton on the monthly comparison. While for Taiwanese cargoes, no new offers recorded this week.
Overall PVC demand in India remains on a soft note this week. Likewise, SSESSMENTS.COM noted, some pipe manufacturers stated that demand for the finished products is slow compared to last year during the same period due to the economic situation. On the supply front, market talks have it that supply condition from US PVC producers such as Formosa Plastics, Shintech, Westlake Chemical and OxyChem is tight and may be further exacerbated due to a fire that broke out at OxyChem’s 544,000 tons/year VCM plant in Deer Park, Texas, on January 31.
Looking ahead, most of the market players opined to SSESSMENTS.COM that the possibilities of upward adjustment for March shipment offers from a Taiwanese PVC producer is thin due to the Coronavirus outbreak that disrupts China’s petrochemical industry. Saying so, PVC demand in India is expected to be better in the near term.
Tags: English,EN PVC INDIA WSS,India,Indian Subcontinent (ISC),Polyvinyl Chloride (PVC),WeeklySSESSMENTS India PVC Prices,PVC pricesFebruary 4, 2020 2:58 PM