PVC prices were left unchanged in the Asian region this week.
An industry source in Asia on condition of anonymity informed a Polymerupdate team member, “Prices rolled over with most producers holding their offer prices in the same range as previous price levels.”
The source added, “Meanwhile, in energy news, mounting concerns over supply disruptions arising from persistent uncertainty surrounding the Middle Eastern conflict situation and improved demand prospects in Asia, with China’s extended stimulus measures buoying market sentiments, has been pivotal in pushing international oil prices higher.”
In China, PVC prices were assessed at the USD 740-780/mt CFR levels, steady week on week.
PVC prices in China quoted stable in the week amid declining PVC futures and a dampened purchase appetite. Replenishment momentum weakened this week with converters adopting a wait and watch stance. Meanwhile, export trade slackened further this week with buying interest slumping for PVC cargoes originating from China ahead of the upcoming anti-dumping duties on PVC imports into India, which are yet to receive official confirmation. Furthermore, producers in China opted to secure material from the spot market.
In China, a Taiwanese producer has offered its PVC resin suspension grades at the USD 780/mt levels for shipment in November 2024.
In Southeast Asia, PVC prices were assessed flat at the USD 750-805/mt CFR levels.
In southeast Asia, most buyers were holding sufficient inventories. While some players pointed to material supplies from China, they steered clear of engaging in spot negotiations to analyse the wider market trends in the Asian region. Meanwhile, short-term market fundamentals remained depressed with buying interest waning across southeast Asia.
In Vietnam, a producer from Taiwan has offered its PVC resin suspension grades at the USD 805/mt levels for shipment in November 2024.
In India, PVC prices were assessed at the USD 790-810/mt CFR levels, constant from the previous week.
Some Chinese-origin PVC cargoes were heard bound for India with the shipment tentatively scheduled to arrive in November, ahead of the approaching December deadline for the implementation of Bureau of Indian Standards (BIS) regulations for PVC imports. Offers from China were heard at reduced price levels in India.
In India, a major Taiwanese producer has offered its PVC resin suspension grades at the USD 800-820/mt levels CIF Nhava Sheva/Chennai /Mundra ports basis, for shipment in November/December 2024 (LC at sight). These offers are stable from last month's offers. Add USD 10/mt for LC at 90 days. Add USD 40/mt for Cochin/Chennai/Kolkata/Pipavav ports basis.
Another Taiwan based producer has offered PVC resin suspension grades at the USD 810-840/mt levels CIF Nhava Sheva/Mundra/Chennai ports basis for shipment in November 2024 (LC at Sight or TT Advance) (Add USD 10/mt for LC 90 Days).
A producer from South Korea offered its PVC resin suspension grade at the USD 800/mt levels (LC at sight) and USD 810/mt (LC usance).
In Pakistan, PVC prices were assessed stable at the USD 780-820/mt CFR levels.
In Pakistan, PVC prices in Pakistan held stable during the week, amid minimal deals heard in the markets while discussions remained limited on the back of tepid demand and higher offer prices.
In Sri Lanka, PVC prices were assessed at the USD 800-840/mt CFR levels, unchanged from last week.
In Bangladesh, PVC prices were assessed steady at the USD 800-840/mt CFR levels.
In Sri Lanka and Bangladesh, market activity was limited owing to muted demand sentiments.
Feedstock EDC prices were assessed at the USD 280-290/mt CFR China levels, while CFR South East Asia EDC prices were assessed at the USD 285-295/mt levels, both steady from the previous week.
CFR South East Asia VCM prices were assessed at the USD 660-670/mt levels, a rise of USD (+5/mt) week on week. Meanwhile, CFR China VCM prices were assessed steady at the USD 580-590/mt levels.
Feedstock CFR North East Asia prices were assessed at the USD 830-840/mt levels, while ethylene CFR South East Asia ethylene prices were assessed at the USD 945-955/mt levels, both rolled over from the previous week.
In plant news, Guangxi Huayi is likely to shut down its Polyvinyl chloride (PVC) unit in the second half of November 2024. Further details on the duration of the shutdown could not be ascertained. Located in Guangxi, China, the PVC unit has a production capacity of 400,000 mt/year.
In other news, Tosoh (Guangdong) Chemical Industries has taken off stream its Polyvinyl chloride (PVC) plant on October 21, 2024 for maintenance. The plant is slated to remain offline for about 5 days. Located in Guangdong, China, the PVC plant has a production capacity of 220,000 mt/year.
Tianjin LG Bohai Chemical is likely to undertake a planned turnaround at its Polyvinyl chloride (PVC) plant in end October 2024. The plant is slated to remain offline until early November 2024. Located in Dagu, China, the PVC plant has a production capacity of 400,000 mt/year.
