10 September 2012 08:28 [Source: ICIS news]
“The targeted [domestic VAM] price is at least won (W) 1,330/kg [($1.17/kg) ($1,176/tonne)] ex-tank from our production facility in
Prices will be at least W70/kg higher than the previous price level of W1,260/kg on 20 July.
The new prices will be effective from 14 September, the source added.
The hike in the price was a result of strong ethylene price, which has seen values rising by a staggering $441/tonne to $1,355/tonne CFR (cost & freight) NE (northeast) Asia on 3 September from $914/tonne CFR NE Asia on 18 June.
One end-user said demand for VAM was soft and buyers may not respond to this increase.
However, several market players said other suppliers and distributors in the domestic market may follow the price direction set by Asacco.
Asacco was running it’s 210,000 tonnes/year VAM plant in
Asacco is a joint venture between
Other major VAM suppliers in the Asian market include US-based
($1 = W1,130.50)
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