Asian PVC markets move higher for April

24-Mar-11
Following the US$50-60/ton increases for March, Asian PVC markets indicate another bullish month, with overseas producers seeking noticeable price hikes on April offers to China and Southeast Asia, as per Chemorbis. Higher offers and sell ideas are in line with players' expectations given scarce VCM supplies in Southeast Asia and tighter import availability to China as a result of the March 11 earthquake in Japan. In China, following the initial April announcements, prices for mainstream Asian origins rose by US$80/ton when compared with March done deal levels. Prices out of the US showed a similar pattern, with April offers for this origin being revealed US$20-30/ton higher to China when compared to last month. While more producers are expected to approach the Chinese market with similar increases, buying interest remains restricted for now. Although players are yet to report any done deals at the current prices, sellers are confident of concluding deals at these levels soon due to upward pressure from costs as well as ongoing supply difficulties. In Southeast Asia, import PVC prices for April have also moved higher. A Thai producer disclosed their April price with a monthly increase of US$60/ton, while another Thai producer re-emerged with a new sell idea this week which indicates an increase of US$120/ton from their March done deals, although no official announcement has come from this particular producer yet. Meanwhile, a trader offering Taiwanese origins implemented a second increase on April prices, bringing new offers US$50/ton above previous price level. Plus, he claimed to have sold some volumes at this new price level. Extremely tight VCM supplies in Southeast Asia, which has already caused some Vietnamese producers to shut their plants, healthy demand for imports, as well as rising domestic prices in Southeast Asia in the face of a shortage of local and Japanese cargoes were cited as the main reasons behind the bullish trend across the region.
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