28 December 2011 05:36 [Source: ICIS news]
SINGAPORE (ICIS)--China’s polyvinyl chloride (PVC) producers, in an unusual move, have started to pre-sell their January cargoes this week to reduce inventories ahead of Lunar New Year holidays, industry sources said on Wednesday.
Majority of domestic PVC producers do not pre-sell cargoes every month but as holidays approach from 22 January to 28 January, PVC producers are reducing stocks because of weaker demand from the downstream factories like pipe and sheet makers, they added.
The PVC downstream factories, especially for small and medium sized ones, will close earlier than normal for the holiday break because of weak demand from the end users, a PVC trader in East China said.
Some small-sized downstream producers in ?xml:namespace>
Besides, some PVC producers are finding it difficult to raise finances through bank loans in January, a market player said.
Domestic carbide-based PVC spot price today were assessed at yuan (CNY) 6550-6650/tonne ($1035-1051/tonne) and the ethylene-based PVC spot price at CNY 6750-7050/tonne in East and South regions, according to Chemease, an ICIS service in China.
($1 = CNY6.33)
Please visit the complete ICIS plants and projects database
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections