New Delhi China imported a record amount of PVC from India in June, at a time when both countries are embroiled in an impasse along the border and demands for reducing trade flows. According to the Global Rubber Market Report, China imported a record 27,207 metric tons of PVC from India in June, more than five times the 5,174 metric tons imported in May. India accelerated the export of PVC during the Kovid-19 lockdown.
The report of Global Rubber Markets says that this is a unique step in itself, as the Indian PVC market has shrunk by about 2 million metric tons per year. India's PVC demand fell during the lockdown, and deliveries had to be canceled. The suppliers then had to divert their cargoes to China to clear additional supplies.
Market sources said they felt China's PVC imports from India could now decline, as the lockdown ended in early June. The deals for June delivery were in May itself. Polyvinyl chloride (PVC) is the most widely produced plastic in the world after polyethylene and polypropylene, and is used in a wide variety of industries, construction, agriculture, consumables, packaging, power generation and public utilities. PVC is highly durable, registrant and flexible, used in clothing, pipes, insulation and many other fields.
To curb imports, Indian companies are submitting proposals to the government on several ways to reduce import dependence on China. The record export of PVC from India to China comes at a time when the Indian government is churning out ways to curb imports from China and has banned many Chinese apps and companies.
This post was published on July 30, 2020 5:17 am
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