Sellers report to concluding some deals for hiked March PVC offers in China

02-Mar-10

In China, mainstream sellers report that they have managed to conclude some deals for March at prices at or close to their initial offer levels for the month, which were announced last week with increase of US$30-40/ton when compared with the February done deal level for mainstream Asian origins, as per Chemorbis. A Taiwanese producer reported selling around half of his March allocation at US$1030-1040/ton CFR China, cash, equal to or US$10/ton below their initial offer levels for the month. Negotiations are on with some customers, so the rest of their March allocation could get sold out at similar levels by the end of this week. Meanwhile, a trader reported concluding some deals for Japanese PVC at US$1040-1050/ton CFR China, cash as well as some deals for American origins at US$990-1000/ton with the same terms. The trader said that they have sold a total of around 10,000 tons of material for March with their deal levels for this month representing increases of US$20/ton for Japanese cargoes and US$10/ton for American materials. The trader commented that their business is performing normally this month and that they are confident of their ability to conclude their monthly business at prices similar to their current offer levels.