Polyvinyl chloride (PVC) prices journey northward in Asia

PVC prices leapt higher across the Asian region this week.

An industry source in Asia wishing to remain unidentified, informed a Polymerupdate team member, "Prices gained sharply as overseas suppliers raised their offers amid limited product avails in the region."

The source added, “A rise in PVC futures on the Dalian Commodity Exchange (DCE) in China and improved buying sentiments also supported the price gains.”

In China, PVC prices were assessed at the USD 815-835/mt CFR levels, a week on week spike of USD (+100/mt).

In China, a Taiwanese producer has offered its PVC resin suspension grade at the USD 815/mt levels for shipment in January 2023.

In South East Asia, PVC prices were assessed at the USD 790-840/mt CFR levels, a surge of USD (+60/mt) from the previous week.

In Vietnam, a Taiwanese producer has offered its PVC resin suspension grade at the USD 790/mt levels for shipment in January 2023.

In India, PVC prices were assessed at the USD 840-870/mt CFR levels, a sharp gain of USD (+60/mt) from last week.

A domestic industry source informed a Polymerupdate team member, “In the open market of India, Reliance Industries Limited increased prices of all Polyvinyl chloride grades by Rs.2/kg with effect from 1st December 2022.”

Restocking activity witnessed a revival amid discussions firming for PVC transactions in India. The purchase pulse in the domestic PVC market was upbeat amid announcement of December offers following months of need based buying. A majority of market players were reportedly keen to make large volume purchases on rising perceptions that the market had bottomed out. Domestic producers are likely to raise prices this week as buying momentum improved in the Indian market.

In India, a Taiwanese producer has offered its PVC resin suspension grade at the USD 840/mt levels for shipment in January 2023.

In Bangladesh, PVC prices were assessed at the USD 820-850/mt CFR levels, a week on week surge of USD (+70/mt).

In Bangladesh, overseas suppliers have offered their PVC resin suspension grades in the range of USD 820-850/mt levels for shipment in January 2023.

In Sri Lanka, PVC prices were assessed at the USD 850-910/mt CFR levels, a steep week on week rise of USD (+50/mt).

In Sri Lanka, overseas suppliers have offered their PVC resin suspension grades in the range of USD 850-910/mt levels for shipment in January 2023.

In Pakistan, PVC prices were assessed at the USD 830-880/mt CFR levels, a surge of USD (+80/mt) from the previous week.

In Pakistan, an Indonesian producer has offered its PVC resin suspension grade at the USD 830/mt levels for shipment in January 2023.

Feedstock ethylene prices on Tuesday were assessed at the USD 915-925/mt CFR South East Asia levels, a week on week spike of USD (+40/mt). Meanwhile, CFR North East Asia ethylene prices were assessed steady at the USD 875-885/mt levels.

Feedstock EDC prices were assessed at the USD 220-230/mt CFR China levels, unchanged from last week. Meanwhile, CFR South East Asia EDC prices were assessed at the USD 225-235/mt levels, a week on week fall of USD (-20/mt).

CFR China VCM prices were assessed at the USD 555-565/mt levels, up USD (+10/mt) from the previous week. CFR South East Asia VCM prices were assessed at the USD 570-580/mt levels, down USD (-5/mt) from last week.

In plant news, LG Chem shut its polyvinyl chloride (PVC) unit in end November 2022 for a maintenance turnaround. The unit is scheduled to remain offstream for around 10 days. Located in South Korea, the PVC unit has a production capacity of 240,000 mt/year.