Asian producer May PVC prices China
Asian producer May PVC
Major Asian producer lowers May PVC prices for China by USD160 per ton
MOSCOW – A major producer of petrochemical products in Northeast Asia (NEA) has lowered its price offer for polyvinyl chloride (PVC) for May deliveries to the Chinese market by USD160 per tonne compared to April, market sources told ICIS .
So, the company’s May price offers for China were announced at the level of USD660 per tonne, CFR China, with a discount of USD10 per tonne for material volumes from 500 tons, market sources said. Asian producer May PVC
For the markets of Southeast and North-East Asia (NEA), as well as for other regions, the company called May PVC price offers at the level of USD630 per ton, FOB NEA / SEA / other regions. The above discount also applies. Asian producer May PVC
This Asian manufacturer also announced that it will not voice its May offer for supplies to India due to quarantine in that country, which has led to a reduction in demand.
Compared to other countries in China, the situation with coronavirus has relatively stabilized, making it an attractive market for the supply of material.
However, market sources said that the announced price offers were met with caution against the background of only a slight improvement in the situation with coronavirus in other countries, the recent drop in ethylene prices, as well as oil price volatility.
According to the ICIS-MRC Price Review , last week was quite calm, the Russian market froze in anticipation of negotiations regarding the May deliveries of Russian PVC.
The processors intend to achieve lower resin prices, manufacturers, in turn, understand that they will have to decline significantly in May. Asian producer May PVC
Demand for PVC in April fell due to quarantine restrictions, and some processors intend to limit resin purchases in May. On the spot, acetylene PVC fell.
Author: Margarita Volkova