Unenthusiastic buying keeps outlook in PVC markets of Asia pessimistic

13-Oct-08

Unenthusiastic buying and lack of deal conclusion has kept outlook for PVC pessimistic in Asia in the week of October 13, 2008. Sellers, who have reduced CFR China offers for October shipment to US$920/MT, are encountering a further decline of twenty dollars in buying intentions. Not under any pressures to buy amid slowing global demand, most buyers prefer to wait and watch for yet another price correction in the face of deteriorating demand from China, as well as falling feedstock values. Chinese suppliers have revised offers to US$870/MT FOB CMP, as the domestic PVC market of China continues to abate and typical dealing prices slide marginally.