Asian PVC price slides 13% on month in June to average $880.75/mt
http://www.chemnet.com Jul 03,2012 PlattsAsian PVC prices fell 12.6% month on month to average $880.75/mt CFR Far East Asia in June, from $1,006.40/mt CFR Far East Asia in May, according to Platts data.
The June average was down $295.85/mt or 25.1% year on year.
Market sources said the fall in prices was due to lower offers by Asian producers last month for July cargoes amid the arrival of competitively-priced deepsea cargoes from the US, as well as ongoing sluggish PVC demand in China.
"The US PVC producers are aggressive and they are offering at attractive prices. Therefore, Asia producers have to cut July offers," a Chinese trader said.
In addition, demand for PVC in China has remained sluggish due to central government measures to cool the property market, a key consumer of PVC.