More PVC Prices Were Announced with Rollovers to Decreases in Southeast Asia

In Southeast Asia, more local PVC prices for September were announced with rollovers to decreases this week after a Vietnamese producer had pioneered lower September prices in late August as per the plastics pricing service ChemOrbis. Weaker PVC prices in the region have also put increasing downward pressure on VCM prices for September, with spot VCM prices dropping by around $50/ton from their initial September offer levels last week. After a Vietnamese producer announced their initial September prices to their local markets before the holidays with decreases of $10/ton from August, more producers have announced their September prices this week with either rollovers or decreases from their August offer levels. A Thai producer announced their initial September prices with decreases of THB500-1000/ton ($17-33/ton) when compared with their late August levels this week. The producer commented that they are seeing normal demand from their local market for now as per the plastics pricing service ChemOrbis...In the Philippines, a producer announced their initial September prices with rollovers from their late August offer levels. The producer commented that they remain hopeful that demand might begin to pick up in October along with the beginning of preparations for the Chinese New Year holidays. PVC demand is said to be largely stable in the Philippines, although most converters remain hesitant to purchase in large quantities for now. Import PVC prices have also moved lower in Southeast Asia and India at the start of the month. A Thai producer stated that they have concluded most of their September export business to the region at prices $20/ton below their initial offer levels for the month. The producer predicted that prices would remain close to their current levels over the near term. Traders in India reported concluding deals for both American and Taiwanese origins at prices $10-20/ton below their suppliers’ initial offer levels this week. Indian players described demand inside the country as normal at the start of September, with some traders expressing hope that demand will strengthen towards the end of the year. Upstream, spot VCM prices moved lower over the past week in accordance with softening PVC prices in the region and generally lackluster demand. Japanese VCM producers lowered their September spot prices by $50/ton from their initial offer levels for the month and $20/ton from their August done deal levels after one Japanese producer reported that they managed to conclude a deal with a buyer in China after giving a similar discount. Source: Plasticsinfomart. com