As Olympic Games draw closer, PVC demand declines in China

04-Aug-08

Market demand for PVC has weakened in China and buyers abstain from concluding deals as the Olympic Games draw closer. Slow domestic market sentiments are prevalent in China, driving major Asian sellers to reposition increased number of cargoes to other destinations in Asia as well as the Middle East. This is ensuring a better price realization for sellers despite lackluster demand from China. August CFR prices in China are lying at US$1300/MT levels, whereas, deals were concluded at over US$1315/MT FOB Korea/Japan and above US$1400/MT CFR Middle East.