PVC prices gained in India this week sharply. Prices of PVC were assessed up at the USD 970/mt levels, a sharp week on week increase of USD 30/mt. Prices firmed on the back of higher import offers from overseas producers coupled with a lift in buying trends in the region.
Plastics are also called synthetic resins and are broadly classified into two categories: thermosetting resins and thermoplastic resins.
The thermosetting resins include phenolic melamine and resin, which are hardened and never become soft again thermally. Thermoplastic resins include PVC, polystyrene (PS), polyethylene (PE), and polypropylene (PP), which may be re-softened by heating.
Usually, thermoplastics are supplied in the kind of pelletised material (compounds) with additives (antioxidants, etc.) blended in it already. However, PVC resin is often supplied in powder form and long-term storage is possible since the material is resistant to oxidation and degradation. Various pigments and additives are added to PVC during the processing stage, and the blend is converted into PVC products.
In recent years the number of PVC resin suppliers in India has seen a moderate growth. This shows that the furture of this industry is good.
PVC is sometimes known as ‘Vinyl’ in Europe and so in North America predominantly. ‘Vinyl’ in Europe usually refers to some specific flexible applications, usually as flooring, decorative sheets and artificial leather.
In India, Formosa, Taiwan is reported to have sealed several deals for PVC resin suspension grade at the USD 970/mt levels for 2017 shipment February. In Sri Lanka, prices of PVC were assessed at the USD 905/mt CFR levels while in Pakistan it's steady. In Bangladesh, prices of PVC were assessed stable at the USD 900/mt CFR levels.
CFR South East Asia prices of PVC were also assessed at the USD 900/mt levels, while CFR China prices of PVC were assessed at the USD 900/mt level, both unchanged week on week. Regional buying trends were reported as sluggish.
CGPC, Taiwan has offered PVC resin suspension grade at the USD 910/mt CFR level in South Asia and China|in February 2017 for shipment. However, no deals were heard to have been concluded at these price levels.
Recently there was a sharp drop of 30 per mt. Before that the prices of ethylene were recorded to be at 1105 per mt USD. CFR South East Asia prices of ethylene were assessed at the 975 per mt USD levels; something unchanged week after week.