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South Korea's PVC exports hit a multi-year low, especially the reduction in exports to India

 Last Update: 2022-11-16
 Source: Internet
 Author: User

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The latest data from South Korea Customs showed that South Korea's PVC exports in May fell 35.
9% from the previous month, hitting a multi-year low of 23,842 tons, dragged down by weak demand in India
.

Data showed that South Korea's PVC exports to India in May fell 66% from April to a one-year low of 6,636 tonnes
.

Market participants said that South Korea's PVC exports are likely to continue to decline in the coming months as demand will remain bearish
.

Asian PVC offers in July are expected to be at least $100/t lower than in June, reflecting bearish demand
.
According to industry sources, the quotation in June was $1,520/ton CFR India, a drop of $150/ton compared with May
.

PVC demand in India weakened in the second quarter as some cities were locked down due to a surge in Covid-19 cases
.
S&P Global Platts data showed that PVC prices in CFR India started to fall in late April after hitting an all-time high of $1,670/t in March due to weak demand
.

According to Platts data, on June 9, the price of CFR Indian PVC fell by $20/ton on a week-on-week basis, and was assessed at $1,440/ton, the lowest point in four months
.

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