VCM

Despite surging ethylene prices, VCM prices saw a marginal hike to US$785/MT in Asia in the week of January 21, 2008. The quieter market was a result of a gap between buying intentions at US$770/MT levels and selling intentions pegged higher by atleast forty dollars. As supplies tighten and rising feedstock ethylene price catch up with VCM values, deals for January shipment are estimated to finally settle at US$790/MT CFR China.