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Recently, the Japan Polyvinyl Chloride Industry and Environment Association (VEC), which is composed of polyvinyl chloride (PVC) resin manufacturers, announced that Japan's PVC resin shipments totaled 102411 tons in June, down 5.1 percent year-on-year. Export markets, which account for about 40 to 50 per cent of total shipments, have been slow to recover.
Affected by falling raw material prices and weak demand, PVC resin international market downturn. VEC President Hiroshi Yokota expressed attention about the price drop, saying: "The current trading price per ton is about 800 US dollars, and the situation is not optimistic." Previously, the price of PVC in the Asian market was hovering around US $1100 per ton due to procurement concerns caused by the situation in the Middle East.
In June, Japan's PVC production was 82157 tons, down 19.9 percent year-on-year. President Hiroshi Yokota noted, "The supply of the key raw material ethylene has stabilized significantly, and the decline in production is not caused by a shortage of raw materials." In addition, Shin-Viet Chemical, Japan's leading domestic production capacity company, began routine maintenance of its production facilities in might, which also had an impact on the above data.
Japan's PVC inventory fell 10.1 percent to 138588 tons during the month. President Yokota commented: "Domestic shipments remained solid, efficiently digesting existing inventories. Inventory levels and equipment utilization rates are likely to have bottomed out between April and June."
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