Asian PVC markets indicate another bullish month

Asian PVC markets are indicating another bullish month, with March offers being revealed higher to China and Southeast Asia this week, as per Chemorbis. Higher March offers to Asia are in line with the pre-holiday expectations given limited supplies on the producers’ side, firm costs and the anticipation of an improvement in demand with the start of the high season for many PVC applications. While more producers are expected to approach the Asian market with similar import prices, buying interest remains restricted for now as many converters in China are still away from their desks due to prolonged holidays. In China, after PVC sellers wrapped up their February business with increases of US$30-40/ton from the previous month, Asian producers re-emerged with further increases of US$60-80/ton on their March import offers to the country as of this week. Import offers from the US to China also rose by US$70-80/ton from the February done deal levels following last month’s US$30/ton increases.Suppliers pointed to the ongoing firmness in other global PVC markets, higher costs, along with the limited availability in China as a result of transportation difficulties and the problems with VCM supplies as the main reasons behind their hike decisions. Rising domestic prices as well as the awaited revival in demand were amongst the other factors causing March price hikes. The PVC market is on an upward rally in Southeast Asia as well in line with China. The region saw March increases of US$30-40/ton from producers and traders this week, with some producers even announcing monthly price hikes of as much as US$70/ton compared to the pre-holiday levels. Demand is expected to be better next month with sellers feeling confident that buyers will be looking for cargoes to replenish their stocks for the upcoming high season.
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