Japan's PVC exports fell for the seventh consecutive month in March to 17,506 mt, down 3.2% month on month and down 63.8% year on year, according to data from the Vinyl Environmental Council released Wednesday.
The lower exports come amid weak demand from China due to government moves to cool the property sector there, market sources said. New home prices in two-thirds of China's major cities fell in March, the National Bureau of Statistics said Wednesday, according to an AFP report.
Meanwhile, Japan's vinyl chloride monomer exports in March were also lower at 11,500 mt -- down 38.9% month on month and down 86% year on year, according to the VEC data.
VCM supply in Japan is tight with Tosoh's VCM plants still shut after a fire November 13 last year. The fire was at the 550,000 mt/year No. 2 VCM plant in Nanyo, but the other units in the complex have also been shut, pending government approval. The complex includes the 260,000 mt/year No. 1 VCM plant and the 400,000 mt/year No. 3 VCM plant, which the company hopes to restart in early May and June, respectively, Platts reported earlier citing a company source.
