Taiwanese major lifted August PVC offers larger than expected

A major Taiwanese producer has announced fresh PVC offers for August loading to Asia with a large increase from July on the back of reduced availability and an uptick in demand in the Indian market.

A major Taiwanese producer has announced fresh PVC offers for August loading to Asia with a large increase of $60/ton from July on the back of reduced availability and an uptick in demand in the Indian market.

The producer’s latest offers and changes are as follows:

Export offers firm up at a similar spectrum of +$60/ton.

As reported earlier, Formosa Plastics Corporation is scheduled to shut its 540,000 tons/year PVC plant in Mailiao, Taiwan for routine maintenance in July 2023. The unit is expected to remain offline for about 10 days.

While the producer was counting on the reviving demand in India to support the hikes, the latest downturn in China encourage customers to adopt a more cautious stance for there are still no signs of recovery in China’s property market.

“We do not expect the producer to face any major challenges in depleting stocks in the Indian market, however, buyers are not as enthusiastic as initially expected. All eyes are on the development in China. Indian customers might gradually wind down their purchases if China market weakens further,” said, an international trader.

Source: Commoplast