VCM markets have not moved much on strong resistance from Chinese buyers, who are faced with pessimistic downstream PVC markets.
VCM markets remained almost stagnant at US$875/MT in Asia in the week of March 31, 2008. Awaiting notional offers for April from Japan, the VCM market remained subdued, particularly in the Far East region. April offers are anticipated to spike to levels of US$900/MT CFR FE as the Japanese yen gains in strength and supplies in Asia continue to be limited. The sharp price hike, however, may not materialize on strong resistance from Chinese buyers, who are faced with pessimistic downstream PVC markets in China and abroad. April offers in South East Asia are being heard at US$950/MT CFR level for April shipment.
Thursday, April 03, 2008
VCM
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