China PVC market could see post Labour day gains
30 April 2007 11:58 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s domestic polyvinyl chloride (PVC) market players were “cautiously optimistic” that prices would rise after the week-long Labour Day holidays, despite recent stability, buyers and sellers said on Monday.
“Supply remains very tight and we can hardly supply enough volumes to our customers,” a major producer in southwest
Producers have been generally unwilling to offer large volumes in the market, on expectations that prices could rise after the long holidays which start on Tuesday, traders and converters said.
“The June-to-August market is expected to be bullish, as producers are usually forced to lower operation rates every year when the summer heat peaks and there are strict laws governing heat generated by PVC plants,” a major trader in east China said.
Feedstock calcium carbide prices are also expected to keep increasing due to higher electricity costs, producers and traders said.
However, some traders believed that the price gains would be modest, if they do happen.
This was because prices had already climbed substantially since after the Lunar New Year in February, and there was no strong downstream support for much higher prices.
Domestic ethylene-based PVC prices jumped from yuan (CNY)7,450-7,600/tonne ($967-986/tonne) EXWH east
Carbide-based PVC prices surged to (CNY)7050-7150/tonne EXWH east
($1=CNY7.72)
By: Carol Li
+65 67804359
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