PVC

PVC market remained firm in Asia in the week of January 21, 2008, mainly on account of robust demand and a rise in feedstock ethylene and VCM cost. Typical February shipment offers were sustained at the level of US$1030-1050/MT CFR China. Major offers from Japan were sustained at around US$1050/MT CFR China for February shipment against buying intentions pegged almost twenty five dollars lower. Prices in the next few weeks are not anticipated to drop, as the recent supply crunch has led to increased feedstock costs, making a price hike essential for producers who desire to recover costs against pressurized margins.