13 September 2013 19:51 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--US vinyl chloride monomer (VCM) spot prices were assessed down on Friday to reflect lower trading ranges discussed in the spot market this week.
Spot VCM on an FOB (free on board) basis out of the US Gulf (USG) were assessed down by $20/tonne (€15/tonne) to $740-785/tonne.
Around 99% of VCM is used in the production of polyvinyl chloride (PVC) and co-polymers, and while US activity is mainly domestic business, there is a structural export flow into Latin America.
VCM exports from the USG to Latin America are healthy as the construction sector in the region is active.
Large tonnages continue to flow to Mexico and Colombia, sources said.
However, there have been some atypical exports noted in recent weeks.
A small cargo of 4,000 tonnes out of the USG to the Mediterranean and a large cargo out of South Texas destined to Asia for end-July, early-August lifting were heard.
Export parcels are usually sold in cargoes of between 3,000-10,000 tonnes from the US.
US producers of VCM are Axiall, Formosa, Oxy Vinyls, OxyMar, Shintech and Westlake.
($1 = €0.75)
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