EDC

Markets for EDC remained quiet and stagnated at US$415/MT in Asia in the week of November 12, 2007. Dipping buyers bids continue to exert cost pressures on producers, who are reluctant to sell at such low rates. Offers from the Middle East region were quoted at around US$425/MT CFR Asia. 30,000 tons of US deep-sea cargoes with January arrival terms was heard offered about ten dollars lower at US$415/MT levels toward the contractual buyers in Asia. This anticipated dip in prices to an all time low has kept Formosa away from the markets as the Taiwanese major abstains from exports.