Import PVC soars to 4-month high in China, India
Jan. 18, 2019
Having started 2019 on firm footing, the strong sentiment in China’s and India’s import PVC markets has recently perpetuated in line with Asian suppliers’ February hikes.
Feb hikes come as no surprise
A major Taiwanese producer’s February announcement matched Asian PVC players’ initial expectations due to tight regional supplies and healthy demand from India. The producer approached both China’s and India’s import PVC markets for February with $20/ton increases from January.
A Chinese trader opined, “The major Taiwanese producer’s allocation is quite limited this time as February corresponds to the Chinese New Year celebrations. Players are expected to leave their desks for the long holidays soon while operating rates are also anticipated to be reduced.”
A South Korean producer also lifted its import PVC offers to India by the same amount on a monthly basis, several Indian traders reported.
Import PVC at highest since Sept 2018 in China and India
Asian suppliers’ firm pricing policy for February has carried China’s and India’s import PVC markets to their four-month high, the weekly average data obtained from ChemOrbis Price Index show.