PVC price was assessed almost stable in Indian polymer markets during the week ended on October 31, 2013. Demand conditions in polymer markets of the country were sluggish, that kept the price almost unmoved.
Traders in markets had ample stocks of PVC stocks, and waited for revival of demand conditions. Many of them expected demand for the polymer to strengthen by the middle of the next month.
Low priced PVC offers to India prompted several buyers to book PVC imports for delivery in November 2013. Taiwan-based Formosa Petrochemical Corporation and South Korea-based Hanwha Chemical Corporation had offered their PVC to India at $1,000 per metric tonne and $1,010 per metric tonne respectively.
During the week, Reliance Industries Limited lowered its PVC price by Rs 2 a kg, apparently in view of the prevalence of weak demand conditions. Subsequent to the price reduction, some market participants felt that demand will rise in the coming days as a result of the price reduction.
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Traders in markets had ample stocks of PVC stocks, and waited for revival of demand conditions. Many of them expected demand for the polymer to strengthen by the middle of the next month.
Low priced PVC offers to India prompted several buyers to book PVC imports for delivery in November 2013. Taiwan-based Formosa Petrochemical Corporation and South Korea-based Hanwha Chemical Corporation had offered their PVC to India at $1,000 per metric tonne and $1,010 per metric tonne respectively.
During the week, Reliance Industries Limited lowered its PVC price by Rs 2 a kg, apparently in view of the prevalence of weak demand conditions. Subsequent to the price reduction, some market participants felt that demand will rise in the coming days as a result of the price reduction.
Continue reading the main story>>
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