PVC sellers less optimistic about likely direction of Southeast Asia markets

PVC demand has been relatively stronger than demand for other polymer products in Southeast Asia, keeping prices on a steady to firm trend even as prices for other polymers have begun to slip in line with weaker demand from China. As per Chemorbis, this week sellers report that they are beginning to feel less optimistic about the likely direction of their domestic markets. An Indonesian producer reported concluding some deals for March at US$1080-1100/ton FD Indonesia, cash, a rollover from their February done deal levels and twenty dollar decrease from their initial March offer levels. The producer elected to scale back price hike targets for the month as demand has not been as strong as expected. A Vietnamese producer, whose offers to the local market are steady from early March at US$1070-1080/ton FD Vietnam, cash, reported that demand is showing signs of weakening as buyers are restricting their purchases in anticipation of lower prices in the coming month. Tight VCM availability was opined as the sole factor still supportive of the current price level in the region. A Thai producer also speculated that April offers would move down when compared with March as regional consumption will be reduced due to holidays in Thailand and Myanmar in April. The producer has concluded their March business in the local market at US$1098-1143/ton FD Thailand, 60 days deferred payment.
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