Formosa Polyvinyl chloride PVC prices China
Formosa reduced April PVC prices for China by USD50 per ton
MOSCOW – Taiwanese Formosa Plastics Corp. (FPC), a major global manufacturer of petrochemical products, on March 19 lowered its price offers of polyvinyl chloride (PVC) for deliveries to the Chinese market in April by USD50 per ton compared to March of the current year, market sources told ICIS .
So, the April price offers of the company for China were announced at USD850 per ton, CFR China, with a discount of USD10 per ton for purchases of material from 500 tons.Formosa Polyvinyl chloride PVC prices China
Similarly, for the South-East Asia (Southeast Asian) market and other markets, FPC reduced the PVC prices for April by USD50 per ton in relation to March to the level of USD820 per ton, FOB Taiwan. At the same time, batches of material for the company for Vietnam were separately offered at a price of USD810 per tonne, FOB Taiwan. For these markets, there is also a discount of USD10 per ton for purchases of material from 500 tons.
In addition, for the Indian market, FPC lowered PVC prices by USD60 per tonne to USD900 per tonne, CFR India. The above discount is also valid here.
Discounts on April volumes are likely to spur buying activity amid sluggish demand in India and China.
According to ICIS-MRC’s Price Review , in Russia a wave of active purchases of PVC by local processors has passed, some manufacturers have already closed all their deals in March deliveries. The demand for PVC from the domestic market has grown, and some manufacturers have chosen to reduce export volumes. Since the beginning of the year, Russian resin has been constantly increasing in price, and manufacturers do not rule out further price increases for the domestic market in April. In isolated cases, prices in March reached a record level in the last 15 months.
Formosa Plastics Corporation (FCP) is a major global chemical manufacturer headquartered in Taiwan. The company mainly produces polyvinyl chloride, polyethylene, polypropylene, as well as other petrochemical products.
Author: Margarita Volkova