11 February 2009 21:46 [Source: ICIS news]
HOUSTON (ICIS news)--US exports of vinyl chloride monomer (VCM) decreased by 17% to 930,631 tonnes in 2008 from 1,124,105 tonnes in 2007, the US International Trade Commission (ITC) said on Wednesday.
Exports in December were down 34% to 35,469 tonnes from the 53,915 tonnes exported in November.
US VCM exports dropped due to slipping downstream demand from the faltering construction sector and producers cutting production rates to historically low levels as they waited for market conditions to improve.
Mexico, Colombia and Canada were the top three export destinations in 2008 and accounted for 94% of total shipments, the ITC said.
US Gulf export FOB (free on board) prices were $375-410/tonne (€293-320/tonne) on Wednesday, according to data from global chemical market intelligence service ICIS pricing.
US VCM producers include Formosa Plastics, Oxy Vinyls, Oxy Mar, Georgia Gulf, Shintech, Dow Chemical and Westlake.
($1 = €0.78)
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