India PVC producers roll over August prices on weak demand

02 August 2013 13:34  [Source: ICIS news]

SINGAPORE (ICIS)--Indian producers of polyvinyl chloride (PVC) announced a rollover of their offer prices for August shipments from July levels, market sources said on Friday.

The regional producers’ list prices for August-loading cargoes were announced at Indian rupees (Rs) 70.50/kg ($1.16/kg) EXW (ex-works), unchanged from their July prices.

The equivalent import parity of the list price at the present exchange rate stands at $1,030-1,040/tonne CFR (cost & freight) India, market sources said.

August-loading cargoes from northeast Asia were heard offered to the Indian market at $1,045-1,050/tonne CFR India. These cargoes are additionally subject to 7.5% import duties in the market.

August resin imports from Asia were heard to have received largely limited response on account of the ongoing monsoon, a traditional lull demand season for PVC, as PVC pipe sales dip during this period.

Pipe and resin demand in the south Asian country is expected to pick up after September, when the monsoon ends.

PVC producers in India include Reliance Industries, Finolex Industries, Chemplast Sanmar and DCW.

In the neighbouring country of Pakistan, the regional producer hiked its list prices to Pakistan rupees (PRs) 65.70/lb ($0.65/lb) EXW for its August shipments, up by PRs 1.50/lb from its July prices, a source close to the company said.

The depreciation in the Pakistani rupee against the US dollar led the producer to increase its list prices, the source said.

The equivalent import parity for the producer’s list price was at $1,065/tonne CFR Pakistan, the source added.

($1 = Rs60.57, $1 = PRs101.80)

By: Veena Pathare
+65 6780 4327

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