18 October 2012 08:38 [Source: ICIS news]
SINGAPORE (ICIS)--India’s polyvinyl chloride (PVC) list prices for October shipments were cut by Indian rupees (Rs) 2.50/kg ($47.30/tonne) to Rs60.50/kg ($1,144.10/tonne), market sources said on Thursday.
The reduction in the prices, which are on an ex-works (EXW) basis, was made effective on 18 October in order to boost buying amid lacklustre demand, a regional producer said.
On the imports front, offers for northeast Asian product to ?xml:namespace>
A Taiwan-based exporter said that it will make offers for November-loading cargoes in the following week.
US-origin cargoes were offered at $960-970/tonne CFR India, but there were no takers because of the lengthy voyage time involved, market sources said. These cargoes are subject to anti-dumping duties (ADDs) of $45/tonne.
However, buying interest in
Market participants are uncertain if there will be a pick-up in demand. Some say that buying sentiment is likely to improve in end-October when it is the pre-festive peak for PVC purchases, while others expect demand to remain weak until mid-November.
“Buyers [Farmers] prefer to spend on gold and other household articles during the Diwali season, and look to purchase pipes after their festive expenses are met. We can expect any demand improvement only after 15 November,” a regional producer of PVC pipes said.
The chief use of PVC pipes in
($1 = Rs52.88)
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