PVC

PVC markets were lackluster and lacked any movement as prices stagnated at US$965/MT in Asia in the week of November 12, 2007. The bearish market outlook seems unlikely to gain much momentum as demand from China continues on a quiet note. Demand from China remains restrained due to weak domestic prices. The stagnancy in the market is also supported by the suppliers who have not started to offer cargoes for December shipment, as few of them are considering a price hike in December to counter rising naphtha and feedstock values. PVC prices could, however, bottom out for December shipment, as Chinese buyers conventionally begin to replenish stocks before the advent of the lunar new year holidays.