Asian PVC producers wrapping up April business

31-Mar-11
Overseas PVC producers have started to wrap up April PVC business in China, with the done deal levels representing noticeable increases over March, as per Chemorbis. In Southeast Asia, April import prices are also emerging significantly higher due to strong demand prompted by tight supplies and the bullish local markets across the region. After US$80/ton increases on their initial April offers to China, Asian PVC producers have mainly concluded their spot deals at prices close to their initial levels. Amidst high feedstock costs as well as limited PVC supplies from Japan, sellers were able to obtain monthly increases of at least US$60-65/ton on their transactions this month. As strong costs, rising domestic prices inside China and lack of availability from regular supply sources are exerting a renewed upward pressure on sellers, players expect to see further increases on May PVC prices. Also, demand is reported to be improving in China, with several converters raising operating rates to 60-70% this week due to an increasing number of orders from end product customers. In Southeast Asia, extremely tight supplies as a result of scarce VCM availability across the region also meant another round of hikes for April, with sellers raising their April offers by US$60-120/ton, supported further by massive increases of up to US$130/ton posted by the regions’ local markets in the face of the shortage of local and Japanese cargoes. Following the initial hike requests, spot done deals began to be reported for the most part with increases of up to US$110/ton as tight regional supplies prompted buying interest.
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