VCM shutdowns add to firming in Asian PVC markets
Indonesia’s Asahimas shut its 250,000 tons/year No 2 VCM line early last week for 40-45 days.
Japan’s Keiyo’s 200,000 tons/year capacity VCM plant will undergo a planned maintenance in the February-March period while Japan’s Tosoh VCM will also have a scheduled maintenance at its 254,000 tons/year VCM capacity Yokkaichi plant in the March-April period.
As can be seen in the graph below created by ChemOrbis Price Wizard, spot VCM prices on CFR FEA basis have currently reached their highest levels since mid-April 2017 on average on the back of shutdowns and the ongoing bullishness in the downstream PVC market. Prices have reached a nine-month high after posting a cumulative increase of around $110/ton for two consecutive weeks.
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