Export prices for acetylene based PVC firm up in China
In China, the PVC market opened the post-holiday period on a stable to firm note in line with players’ initial expectations. Two Chinese acetylene based PVC producers increased their export offers owing to firmer prices in the local market following the Chinese New Year holidays. A source from an acetylene based PVC producer reported that they issued an increase of $5/ton on their export prices, bringing their new offers to $675/ton on an FOB China, cash basis. The source stated that their offers are open to negotiations. A source from a second acetylene based PVC producer also said that they raised their export prices to $700/ton FOB, cash this week. He attributed their decision to firmer levels in the local market, commenting, “We see mediocre response to our new offers as buyers find ethylene based PVC offers to be more competitive.” In the import market, players are expecting to receive March prices from a major Taiwanese PVC producer with increases of around $20/ton. A Shanghai-based trader commented, “We are now waiting for a major Taiwanese producer’s March announcements, believing that they will increase their prices.” In the local market, meanwhile, a trader commented on local sellers’ increase attempts, saying, “Sellers have raised their offers but buyers’ response to new levels remain unclear as most buyers will not return to the market until next week.”