PVC price drop of fifty dollars meets with little enthusiasm from Asian buyers

29-Aug-08

PVC prices ebbed to 9 week lows of US$1250/MT FCR China last week, mainly on bearish demand from China. As demand from China continues to be unenthusiastic and bearishness persists in the market outlook, PVC prices in Asia have sunk further by about fifty dollars. Key suppliers have quoted September offers at US$1250/MT, but are being met with no buying response from China. As a result, domestic players have also dropped prices. PVC market sentiments continue to be soft throughout the continent triggering a hundred dollar drop since August shipment prices.