Asia’s PVC Market Update: Prices And Plant Maintenance Schedule Disclosed

Explore the latest Asian PVC market comprehensive insights and understand the overall market dynamic. We touch upon crucial aspects such as pricing trends, maintenance activities, & plant shutdowns, to provide you with valuable industry updates by highlighting key feedstocks prices like EDC and ethylene. Gain insights into market stability, and prices to navigate the evolving PVC market landscape in Asia. Here we go!

1. PVC Prices

Here are the PVC prices across Asia:

• India- PVC resin prices fell to USD 815/mt CFR, with slow demand expected during the monsoon season. The Indian government-imposed quota restrictions on PVC imports to protect domestic producers.
• Taiwan- A Taiwanese producer has offered its PVC resin suspension grade at USD 785/mt for shipment in June 2023.
• Pakistan- PVC prices were stable at around USD 845/mt CFR levels. Import trade in Pakistan has considerably abated due to the depreciation in domestic currency value.
• China- PVC prices in China dropped to USD 790/mt CFR levels, with producers looking to export due to a domestic demand downtrend. 
• South East Asia- In South East Asia, PVC prices decreased to USD 770-820/mt CFR. 
• Vietnam- In Vietnam, a Taiwanese producer offered PVC resin at USD 780/mt for June 2023 shipment. 
• Sri Lanka- PVC resin prices decreased to USD 820-840/mt CFR.
• Bangladesh- PVC resin prices fell to USD 780-810/mt CFR.

2. Feedstock EDC & Ethylene Prices

• Feedstock EDC- Prices were assessed at around USD 310/mt CFR China levels and CFR South East Asia EDC prices were assessed at around USD 330/mt levels, both unchanged from last week.
• Ethylene- Prices were assessed at around USD 900/mt CFR South East Asia levels, down USD (-15/mt to -25/mt) from last week. CFR China levels ethylene prices were assessed at around USD 840/mt levels, a week-on-week drop of USD (-20/mt to -30/mt).

3. VCM Prices In Southeast Asia & China

CFR South East Asia VCM prices were assessed steady at around USD 690/mt levels, while CFR China VCM prices were assessed flat at around USD 640/mt levels.

4. Plant Shutdowns & Maintenance Activities

Here is the shutdown and maintenance-related information:

• Shanghai Chlor-Alkali Chemical Co. Ltd. – It is likely to shut down its PVC unit by mid-June 2023 for maintenance. Located in China, it has a production capacity of 100,000 mt/year and is slated to remain offline until the end of July 2023.
• Formosa Plastics Corporation- It is likely to undertake a maintenance turnaround at its PVC unit by the end of May 2023. The unit, located in Taiwan, has a production capacity of 450,000 mt/year and is slated to remain offline until early June 2023.
• Reliance Industries Limited (RIL)- On May 11, 2023, RIL commenced a maintenance turnaround for its PVC plant situated in Hazira, India. With a production capacity of 370,000 metric tons per year, the plant is scheduled to remain offline until the end of May 2023.

OFB’s Insight 

The PVC market in Asia is currently witnessing stable prices with some fluctuations in feedstock prices. Several major plants are undergoing maintenance shutdowns, which may impact supply and demand dynamics in the coming months. Market participants should keep a close eye on these developments to make informed decisions in their respective businesses.

Read More – Low-Density Polyethylene Global Price Trends And Market Updates Of Q1 2023

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