The PVC (Polyvinyl Chloride) prices in the Asian market exhibited steady momentum as the downstream demand in the region remained unchanged along with tight supplies. Further, the Shippers and exporters in Asia remain deeply concerned about the Red Sea, given the escalating freight rates attributed to a growing scarcity of container vessels impacting market transactions in the PVC industry.
During the second half of January xxxx, the Asian PVC market players paused the price movement for the time being as the declining gap between demand and supply played a pivotal game. In a noteworthy development, upstream crude oil prices have experienced a consecutive two-week upswing, reaching their peak on Friday and settling at levels unseen in almost two months. The surge comes on the heels of positive U.S. economic growth and indications of Chinese stimulus measures, which have significantly heightened expectations for increased demand. Additionally, concerns...
