The market price of PVC at various trading hubs in India have declined due to stock build-up and weak demand conditions. Apart from market prices, the website gathers that Reliance Industries Limited (RIL) declined its ex- works price as well on 21st August, 2014 by Rs. 2 per kg on account of the current market sentiment.
The website accesses that the market price of PVC resins in Delhi market declined from levels of Rs. 91-92 per kg to current level of Rs.88 per kg, while prices in Mumbai market decreased from Rs. 88-89 per kg to present levels of Rs. 85- 86 per kg. In similar lines, the market price for PVC resins in Indore fell from levels of Rs. 94-95 per kg to trading range of Rs. 91-92 per kg.
In line with this domestic trend, Indianpetrochem also gathers from its price database that the benchmark PVC price in South East Asian region declined from levels of $ 1,032 per metric tonne CRF SEA at the beginning of the month to current levels of $ 1,047 per metric tonne CFR SEA.
The website understands from various market participants that the overall demand for resins has significantly declined from pipe manufacturing sector due to the onset of monsoon. Also, some traders addressed that recently the demand from construction sector also across main markets.
While current demand sentiment for PVC resins is grim, most participants expect the conditions to improve in the coming months as season demand from construction and agriculture sector will added momentum to the demand.
The website gathers that there are ample stocks of PVC in major trading hubs, this has also contributed to the decline in prices.
(This article was published on the website on August 25, 2014)
The website accesses that the market price of PVC resins in Delhi market declined from levels of Rs. 91-92 per kg to current level of Rs.88 per kg, while prices in Mumbai market decreased from Rs. 88-89 per kg to present levels of Rs. 85- 86 per kg. In similar lines, the market price for PVC resins in Indore fell from levels of Rs. 94-95 per kg to trading range of Rs. 91-92 per kg.
In line with this domestic trend, Indianpetrochem also gathers from its price database that the benchmark PVC price in South East Asian region declined from levels of $ 1,032 per metric tonne CRF SEA at the beginning of the month to current levels of $ 1,047 per metric tonne CFR SEA.
The website understands from various market participants that the overall demand for resins has significantly declined from pipe manufacturing sector due to the onset of monsoon. Also, some traders addressed that recently the demand from construction sector also across main markets.
While current demand sentiment for PVC resins is grim, most participants expect the conditions to improve in the coming months as season demand from construction and agriculture sector will added momentum to the demand.
The website gathers that there are ample stocks of PVC in major trading hubs, this has also contributed to the decline in prices.
(This article was published on the website on August 25, 2014)
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