18 October 2007 12:21 [Source: ICIS news]
SINGAPORE (ICIS news)--Indian producers announced price protection for polyvinyl chloride (PVC) transactions from 18-31 October for the first time this year which looks set to spur buying, producers and traders said on Thursday.
The measure would enable customers to benefit from future price cuts retroactively, sending out a signal that prices were stabilising, said the first producer.
“The announcement of price protection has caused enquiries to increase significantly,” the producer added. “With the monsoon tapering off, it looks like the peak demand season is finally here.”
The move would also restore confidence among exporters to ?xml:namespace>
Trade had been lacklustre in recent weeks, despite a 6% or Indian rupees (Rs) 3/kg ($0.08/kg) reduction in domestic prices last week to counter the dampening effect of the strengthening rupee on the market.
Import offers into
Some transactions were heard done at this level but buying ideas had declined to $960-970/tonne CFR India in response to offers at $1,030/tonne CFR India, a northeast Asian supplier said.
Most northeast Asian suppliers said they were losing interest in the Indian market due to prolonged customer resistance.
Most suppliers said they found it unviable to sell at below $1,030/tonne CFR India as their FOB (freight on board) offers were at $950-960/tonne and freight between northeast Asia and
“We would rather sell into other markets like the Middle East and
A third supplier said its offers to all regions, including
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