Taiwan’s Formosa Plastics announces May offers at a rollover

14 April 2014 11:42 Source:ICIS News

SINGAPORE (ICIS)--Taiwan’s Formosa Plastics Corp (FPC) announced its offers for May shipments of polyvinyl chloride (PVC) at a rollover from April, a source close to the company said on Monday.

The producer announced offers to China and southeast Asia at $1,040/tonne CFR (cost & freight) China/southeast Asia, unchanged from its prices for April shipments.

The producer offered a price discount of $10/tonne for purchase volumes of 500 tonnes and more, and a discount of $20/tonne for volumes 1,000 tonnes and more, the source said.

The producer’s offers to India were announced at $1,050/tonne CFR India. FPC had earlier refrained from offering to India in April, on account of the delay in the announcement of the revised structure of anti-dumping duties (ADDs) on PVC imports to India.

A discount of $10/tonne is offered to Indian importers for purchase volumes of 1,000 tonnes and above.

After the Indian government announced the revised ADD structure last week and the Taiwanese producer’s exports to the country were declared exempt from ADDs, the producer chose to announce its offers. 

To other markets, FPC announced offers at $990/tonne FOB (free on board) Taiwan, unchanged from the previous month. A discount of $20/tonne is applicable for all purchase volumes of 1,000 tonnes and more.

FPC offered a total volume of 70,000 tonnes for export in May, according to the source.

The offer was said to be valid till April 16.

Additional reporting from Kite Chong and Stephanie Zhang

By Veena Pathare