15 July 2008 08:14 [Source: ICIS news]
SINGAPORE (ICIS news)--Japan’s largest vinyl chloride monomer (VCM) producer Tosoh Corp has settled its benchmark Asia July cargoes up $20/tonne from June levels at $1,000/tonne, a source close to the company said on Tuesday.?xml:namespace>
An estimated 10,000 tonnes of VCM was sold on a cost and freight (CFR) ?xml:namespace>
Buying interest in the July cargoes was reportedly subdued, resulting in protracted negotiations. Counter-bids for Tosoh’s offers were last week heard in the high-$900s/tonne CFR China range.
Meanwhile, in the downstream polyvinyl chloride (PVC) market,
VCM producers and traders attributed the lacklustre buying interest in the market to bearish sentiment among buyers, as well as competitive prices of ethylene dichloride (EDC), another feedstock used in the PVC production process.
For more on PVC, VCM and EDC visit ICIS chemical intelligence
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