Asian
PVC: Falls $30-35/mt amid lower offers from China ■ China market bearish amid
fresh COVID-19 restrictions ■ Asia PVC-VCM spread remains
below breakeven level Asian
polyvinylchloride prices dropped $30-35/mt week-on-week to a low of $1310-1350/mt
CFR China (two month low) and $1530-1575/mt CFR India (three month low) April
27, as Chinese suppliers accelerated exports amid bearish domestic demands.
This was due to the lockdowns in certain areas to control rising COVID-19
infection rates. In line with this bearish demand, the domestic China PVC
prices fell. Ethylene-based PVC prices
fell Yuan 300-340/mt weekly to Yuan 9,400-9,470/mt (or $1,268-1,300/mt if you
use import parity). Carbide-based PVC prices were assessed down Yuan 300-356/mt
to Yuan 8,800-8,875/mt or $1,225-1,255/mt. In an effort to reduce unsold inventory, Chinese suppliers
reduced their export offers. Ethylene-based
PVC prices were down...