Sudden outage at Tosoh, delayed shipments squeeze supply, firm VCM prices

08-Dec-08
VCM supplies were squeezed in Asia on sudden plant outage due to mechanical problems at Tosoh's 550,000 tpa VCM plant as well as at a 400,000 tpa VCM plant at Nanyo around the third week of November. The supply scenario was worsened by a week long delay in shipments toward China. This supply crunch coupled with strengthening downstream PVC prices and fortifying feedstock EDC values. All these factors have helped firm up CFR China VCM markets in Asia to US$425/MT. PVC prices in Asia continue to hover around US$605/MT CFR China, as inventory levels with producers has started depleting due to reduced production. Though buying intentions for PVC have not been buoyed, a hike in domestic PVC prices in China and dwindling stockpiles with producers has managed to continue on a firm note.
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