Demand's up, supplies are tight and processors pay the piper. In China, overseas PVC producers have started to wrap up their April PVC business, with the done deal levels representing noticeable increases over March, reports plastics pricing service ChemOrbis. In Southeast Asia, April import prices are also emerging significantly higher due to bullish local markets across the region.
Asian PVC producers attempted to realize $80/ton increases on their initial April offers to China, but most concluded their spot deals at prices close to their initial levels, according to ChemOrbis. With high feedstock costs, as well as limited PVC supplies from Japan as a result of the devastating earthquake on March 11, sellers were able to obtain monthly increases of at least $60-65/ton on their transactions this month. Market observers expect to see further increases on May PVC prices. Plus, adds ChemOrbis, there are more reports of increasing PVC demand in China, with several processors raising their operating rates to 60-70% recently due to an increasing number of orders....