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ICICI Securities Report
Polyvinyl chloride (PVC) prices’ uptrend continues with another hike of Rs 2 per kilogram, or 2.4%, with effect from September 01, 2020.
This is the fifth price hike in Q2-to date totalling to Rs 9.5 per kg or 12.4% even after a sharp spurt witnessed in May 2020 and June 2020.
PVC prices, which now stand at Rs 86.3/kg, have risen 31.6% since May 01, 2020.
The surge has largely been led by higher international PVC prices amid supply-side issues and the recent shutdown of one of the largest PVC plants of Formosa in the U.S.
This, we believe, would provide a fillip to PVC pipe manufacturers (by way of higher channel filling) who have been grappling with Covid-19 led intermittent lockdowns.
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