FEEDSTOCK - VCM

VCM prices in Asia stagnated at last weeks' level of US$755/MT in the week of December 24, 2007. At these levels, VCM prices are almost fifteen dollars more than November levels, but an equal amount lesser than the thirty dollar hike originally planned by Japanese producers at the beginning of the month. This hike was planned in conjunction with a robust gain in naphtha values, but was met with resistance from the PVC producers of China, resulting in a downward correction to present levels.