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Polyvinyl chloride (PVC) prices journey southward in Asia

23 Nov 2022 15:30 IST
PVC prices dropped in the Asian region this week.

An industry source in Asia wishing to remain unidentified informed a Polymerupdate team member, "The price fall was driven by reduced offer levels from overseas suppliers. A fall in VCM feedstock prices also pressured prices lower. A weak buying undertone was observed in the Asian markets with buyers adopting a wait and watch approach to assess the near to medium term market fundamentals.”

The source added, "A drop in PVC futures on the Dalian Commodities Exchange (DCE) in China also proved to be a key contributory factor in exerting a bearish pressure on prices."

In China, PVC prices were assessed at the USD 715-735/mt CFR levels, a fall of USD (-25/mt) from the previous week.

In China, a Taiwanese producer has offered its PVC resin suspension grade at the USD 735/mt levels for shipment in December 2022.

In South East Asia, PVC prices were assessed at the USD 730-780/mt CFR levels, a week on week decline of USD (-20/mt).

In Vietnam, overseas suppliers have offered their PVC resin suspension grades in the range of USD 730-780/mt levels for shipment in December 2022.

In India, PVC prices were assessed at the USD 740-770/mt CFR levels, a tumble of USD (-40/mt) from last week.

A domestic industry source informed a Polymerupdate team member, β€œIn India, A Taiwanese producer has offered its PVC resin suspension grades at the USD 740/mt levels on CIF Nhava Sheva/Chennai/Mundra ports basis for shipment in December 2022 (LC at Sight). This offer is sharply lower by USD 90/mt from its previous offer.” Meanwhile, A producer from South Korea offered its PVC resin suspension grade at the USD 740-750/mt levels for shipment in December 2022 (LC at Sight).

In Bangladesh, PVC prices were assessed at the USD 710-740/mt CFR levels, down USD (NC/-30/mt) from the previous week.

In Bangladesh, overseas suppliers have offered their PVC resin suspension grades in the range of USD 710-740/mt levels for shipment in December 2022.

In Sri Lanka, PVC prices were assessed at the USD 800-860/mt CFR levels, a week on week fall of USD (-20/mt). Overseas suppliers have offered their PVC resin suspension grades in the range of USD 800-860/mt levels for shipment in December 2022.

In Pakistan, PVC prices were assessed at the USD 750-800/mt CFR levels, a drop of USD (NC/-20/mt) from the previous week.

In Pakistan, overseas suppliers have offered their PVC resin suspension grades in the range of USD 750-800/mt levels for shipment in December 2022.

Feedstock ethylene prices on Tuesday were assessed at the USD 875-885/mt CFR South East Asia levels while CFR North East Asia ethylene prices were assessed at the USD 875-885/mt levels, both stable from the previous week.

Feedstock EDC prices were assessed at the USD 230-240/mt CFR China levels while CFR South East Asia EDC prices were assessed flat at the USD 255-265/mt levels, both unchanged week on week. CFR China VCM prices were assessed at the USD 555-565/mt levels, a plunge of USD (-70/mt) from last week. CFR South East Asia VCM prices were assessed at the USD 585-595/mt levels, sharply lower from the previous week by USD (-40/mt).

In plant news, Formosa Plastics Corp (FPC) is presently running its Polyvinyl chloride (PVC) plants at curtailed capacity levels. Located at Mai Liao and Jen-wu, Taiwan, the plants have a total production capacity of 1.075 million mt/year.

Formosa Plastics Corporation (FPC) will be operating its Ethylene dichloride (EDC) units at reduced capacity levels in December 2022. Located at Mai Liao and Jen-wu Taiwan, the units have a total production capacity of 2.270 million mt/year.