EDC prices saw a drop to US$470/MT in Asia in the week of September 17, 2007. No movement was seen in the market as both buyers and sellers preferred to wait and watch. It seems that the buyers will prevail in the situation of "who will relent first" as sellers' intention to peg prices at last weeks levels are predicted to be hampered by bearish demand from downstream VCM producers in Asia due to the several scheduled plant outages for the maintenance turnaround. Falling feedstock ethylene rates also continue to maintain pressure as EDC prices head southwards.
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