China PVC rebounds 8-10% on improved outlook

14 November 2008 09:56  [Source: ICIS news]

SHANGHAI (ICIS news)--China polyvinyl chloride (PVC) prices have risen 8-10% this week on a positive outlook due to low PVC inventories and increased demand from converters, traders and converters said on Friday.

Carbide-based PVC in east China has rebounded to yuan (CNY) 5,400-5,600/tonne ($791-820) DEL (delivered) from CNY 5,000-5,100 DEL earlier this week, according to China chemical market intelligence service ICIS Chemease.

“PVC inventories are in a low level in domestic market since PVC prices have kept dropping in the past four months,” a source said.

“Some traders restrain sales now, hoping that prices would keep rising,” a trader said.

“It reduces PVC supplies flowing into the market.”

Some downstream converters in south China have re-entered the market with bigger purchase volumes in anticipation of further price increases, traders and converters said.

($1 = CNY6.83)

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By: Carol Li
+65 67804359

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