VCM

In sharp contrast to other feedstocks, VCM markets stagnated at US$820/MT in Asia in the week of February 25, 2008. Even as prices in South East Asia continued to be stable, prices in China witnessed a tussle between buying and selling intentions. Due to resistance by endusers from China to higher prices, a downward revision of twenty dollars was seen as the Japanese suppliers modified February offers. This price revision however, did not meet with favourable response from the Chinese buyers, with buying intentions pegged as low as US$800/MT CFR CMP level. CFR China deals for February are estimated to be concluded at US$820/MT levels.