16 October 2009 21:18 [Source: ICIS news]
The seasonal lull in the fourth quarter and weaker Asian demand pushed US export values down into the $320s/tonne range and in some cases even lower, sources said.
A few market players said EDC values hovered around $280-300/tonne FOB (free on board) US Gulf (USG), but other sources said prices were in the high-$320s/tonne. The posted range was assessed lower to reflect a mid-range of values discussed during the week.
The US EDC spot price range was lower at $310-325/tonne FOB USG, according to data from global chemical market intelligence service ICIS pricing.
In Asia, EDC prices have dropped steadily since the beginning of September. Buyers have waited on the sidelines as ethylene values declined and uncertainty clouded the Asian polyvinyl chloride (PVC) market.
EDC is a key feedstock used in the production of vinyl chloride monomer (VCM), which is used to produce PVC.
EDC producers in the US include Formosa Plastics, Georgia Gulf, Occidental Chemical (OxyChem), PPG Industries, Dow and Westlake.
($1 = €0.67)
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