PVC prices fell across the Asian region this week.
An industry source in Asia who wished to remain unnamed told a member of the Polymerupdate team: “Key factors contributing to the price drop include lower import bids from overseas suppliers, abundant product availabilities, and a drop in prices. in PVC futures on the Dalian Commodity Exchange in China.
The source added: “PVC prices in the region were also under downward pressure as the US dollar gained against major Asian currencies.”
In China, PVC prices were assessed at CFR levels of $780-800/mt, down $(-20/mt) from the previous week.
In China, a Taiwanese producer offered its suspension grade of PVC resin at levels of USD 780/mt for shipment in November 2022.
In South East Asia, PVC prices were assessed at CFR levels of $780-830/mt, down by $20/mt on a weekly basis.
In Vietnam, a Taiwanese producer offered its suspension grade of PVC resin at levels of USD 780/mt for shipment in November 2022.
In India, PVC prices were assessed at the CFR levels of $830-870/mt, down $(-20/mt) from the previous week. A domestic industry source told a Polymerupdate team member: “Most market participants stayed on the sidelines ahead of the Diwali festival in India.”
The source further stated, “In the open market of India, Reliance Industries Limited reduced PVC prices by Rs.3/kg basis, effective 19th Oct 2022. The scheme for the month continues as previously announced.” .
In India, a Taiwanese producer has offered its suspension grade of PVC resin at levels of $830/mt for shipment in November 2022. This offer is much lower at $70/mt compared to the previous offer. A South Korean producer offered a suspension grade of PVC resin at levels of USD 840/mt for shipment in November 2022.
In Bangladesh, PVC prices were assessed at CFR levels of $810-870/mt, down $(-20/mt) from the previous week.
In Bangladesh, a Taiwanese producer has offered its suspension grade of PVC resin at levels of $810/t for November 2022 shipment.
In Pakistan, PVC prices were assessed at the CFR levels of $830-900/mt, week-on-week a sharp drop from USD (-30/-60/mt).
In Pakistan, foreign producers offered their PVC resin suspension grades in the range of US$830-900/mt levels for shipment in November 2022.
In Sri Lanka, PVC prices were assessed at CFR levels of $900-960/mt, down $(-30/mt) from last week.
In Sri Lanka, foreign producers offered their PVC resin suspension grades in the range of US$900-960/mt levels for shipment in November 2022.
Ethylene feedstock prices were assessed at the $875-885/mt CFR levels in Southeast Asia on Tuesday, unchanged week-on-week. Meanwhile, Northeast Asia CFR ethylene prices were assessed at levels of USD 845-855/mt, a gain of USD (+20/mt) from the previous week.
EDC raw material prices were assessed at levels of $295-305/t cfr China, down $(-15/t) from last week. Meanwhile, Southeast Asian EDC CFR prices were assessed unchanged at the $315-325/mt levels. VCM prices from China CFR were assessed at levels of USD700-710/mt, while VCM CFR prices from Southeast Asia were assessed at levels of USD730-740/mt, both unchanged week-on-week.
As for plant news, Hanwha Solutions is likely to shut down its polyvinyl chloride (PVC) unit for maintenance in mid-November 2022. The unit will remain closed until mid-December 2022. Located in Yeosu, Korea del Sur, the unit has a production capacity of 460,000 mt/year.
