VCM

VCM prices maintained their upward march in Asia, rising to US$935/MT in the week of April 21, 2008. Buoyant feedstock naphtha and ethylene prices, coupled with restricted supplies in the region have kept VCM prices high. Tight availabilities across the Asian region have also fuelled bullish market sentiment. As cost pressures mount, Japanese suppliers plan to offer material for May above US$950/MT CFR China, and US$970/MT CFR SE Asia level. Situation of restricted supply is expected to continue until June, hence sellers offers for May are expected to be further hiked.