Polyvinyl chloride (PVC) prices journey northward in Asia

This week, PVC prices marched higher in the Asian region.

An industry source in Asia wishing to remain unidentified informed a Polymerupdate team member, "Prices firmed as a major Taiwanese producer raised its offers from the previous month with limited cargo allocation. This prompted other overseas suppliers to lift their offers. Meanwhile, buying sentiment was reported to be steady in the region.”

The source added, “A rise in PVC futures on the Dalian Commodity Exchange (DCE) and a depreciated Chinese Yuan against the US dollar further pushed prices higher in the region.”

In China, PVC prices were assessed at the USD 790-810/mt CFR levels, a sharp gain of USD (+40/mt) from the previous week.

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

In Southeast Asia, PVC prices were assessed at the USD 790-820/mt CFR levels, a week on week increase of USD (+40/mt).

In Vietnam, a producer from Taiwan has offered its PVC resin suspension grade at the USD 810/mt levels for shipment in August 2023.

In India, PVC prices were assessed at the USD 820-880/mt CFR levels, a spike of USD (+30/+50/mt) from the previous week. A domestic industry source informed a Polymerupdate team member, “Reliance Industries Limited increased PVC prices by Rs.1.50/kg basic, with effect from July 19, 2023.”

In India, a major Taiwanese producer has announced its offer for PVC resin suspension grade at the USD 820/mt levels on CIF Nhava Sheva/Mundra ports basis, for shipment in August 2023 (LC at Sight). This offer is higher by USD 60/mt from its last offer. A producer from Japan has offered its PVC resin suspension grade at the USD 880/mt levels for shipment in August 2023. This offer will be in the range of USD 810-820/mt after availing duty benefit. A producer from Thailand has offered its PVC resin suspension grade at the USD 880/mt levels for shipment in August 2023.
In Pakistan, PVC prices were assessed at the USD 810-840/mt CFR levels, a rise of USD (+20/mt) from last week.

In Pakistan, overseas suppliers have offered their PVC resin suspension grades in the range of USD 810-840/mt levels for shipment in August 2023.

In Sri Lanka, PVC prices were assessed at the USD 820-840/mt CFR levels, a week on week rise of USD (+20/mt).

In Sri Lanka, overseas suppliers have offered their PVC resin suspension grades in the range of USD 820-840/mt levels for shipment in August 2023.

In Bangladesh, PVC prices were assessed at the USD 810-850/mt CFR levels, up USD (+30/mt) from the previous week.

In Bangladesh, a producer from Taiwan has offered its PVC resin suspension grade at the USD 810/mt levels for shipment in August 2023.

Feedstock EDC prices were assessed at the USD 275-285/mt CFR China levels, while CFR South East Asia EDC prices were assessed at the USD 275-285/mt levels, both unchanged week on week.

CFR China VCM prices were assessed at the USD 605-615/mt levels, stable from last week. CFR South East Asia VCM prices were assessed at the USD 615-625/mt levels, a week on week rise of USD (+10/mt).

Feedstock ethylene prices on Tuesday were assessed at the USD 740-750/mt CFR South East Asia levels while CFR North East Asia ethylene prices were assessed at the USD 745-755/mt levels, both unchanged from last week.

In plant news, Formosa Plastics Corp (FPC) is likely to undertake a planned shutdown at its Polyvinyl chloride (PVC) unit in August 2023 for a maintenance turnaround. The exact date and duration of the shutdown could not be ascertained. Located at Mai Liao in Taiwan, the PVC suspension unit has production capacity of 462,000 mt/year.

In other plant news, Shanghai Chlor-Alkali has restarted its Ethylene dichloride (EDC) plant in early July 2023 following a turnaround. The plant was shut for maintenance on June 15, 2023. Located at Caojing, Shanghai in China, the EDC units have production capacity of 700,000 mt/year.

China Salt Inner Mongolia is likely to shut its Polyvinyl chloride (PVC) unit on July 26, 2023 for maintenance. The unit is slated to remain offline for about one week. Located in China, the PVC unit has production capacity of 400,000 mt/year.