A pessimistic outlook prevailed in PVC market of Asia due to a dearth on concluded deals last week as the major buyers in the continent- the Chinese, were on a week long break. Though sellers have lowered offers to US$970/MT CFR chine, buyers have expressed an interest to buy almost seventy dollars lower. The Chinese do not seem to be in a hurry to buy and prefer to wait and watch- this could result in further price declines.
Saddled with stock piles due to lackluster buying, several PVC producers in Asia have got down operating rates. Hanwha Chemicals is believed to be running its 560,000 tpa PVC plant at 70% capacity, while Japan's Taiyo has cut operating rates by 15%.
07-Oct-08 
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