09 May 2013 03:40 [Source: ICIS news]
TAIPEI (ICIS)--India’s polyvinyl chloride (PVC) market has become a “battleground” for global producers, increasing competitive pressures, a senior executive at an Indian producer said on Thursday.
“The PVC battleground is [in] India where we import around 1m tonnes/year versus about 3m tonnes/year of local capacity. India is the most important global market,” said the executive on the sidelines of the Asia Petrochemical Industry Conference (APIC) in Taiwan.
Imports from China and Europe, along with Mexico, have increased competitive pressures, said the source.
“In April we saw around 32,000 tonnes from China… normally we see about 10,000 tonnes,” the executive said.
“China local PVC demand has been depressed because of the weak construction market. China is now a net exporter,” he noted.
Europe has been exporting PVC at a rate of 150,000 tonnes/year to India despite its high cost position, according to the source.
“An antidumping case [on European imports] was filed in late 2012 and this could take 3-4 months from now to sort out,” said the executive.
India also imports around 300,000 tonnes/year of PVC from South Korea, 270,000 tonnes/year from Taiwan, 100,000 tonnes/year from China, less than 100,000 tonnes/year from the US, and about 60,000 tonnes from Mexico.
India will have an additional 200,000 tonnes/year of local capacity by 2014, the source noted.
APIC is being held in Taipei on 9-10 May.
Additional reporting by John Richardson in Taipei
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