Vinyl Chloride Monomer Prices, Trend, Monitor, News & Forecast | ChemAnalyst
Vinyl Chloride Monomer Prices, Trend, Monitor, News & Forecast | ChemAnalyst
North America:
In the last quarter of 2023, the North American market for Vinyl Chloride Monomer (VCM) witnessed a decline in prices. This decrease was primarily influenced by reduced demand from downstream Polyvinyl Chloride (PVC) manufacturing sectors and ample supplies. The dip in VCM demand within the USA's PVC industry was a result of a sluggish economic recovery and stagnant trading conditions in the construction sector. By the quarter's end, the price for PVC FOB Texas in the USA stood at USD 679/MT. Anticipating a price hike due to new import tariffs, buyers momentarily halted their purchasing activities. International factors, such as the Russia-Ukraine conflict and a Panama Canal drought, further complicated the USA's international container logistics during this period. Responding to a significant drop in spot export prices compared to contracted prices, US buyers actively discussed potential reductions in VCM prices. Disruptions in US shipping, caused by Panama Canal issues and the ongoing decline in crude oil values, also influenced pricing dynamics in the North American VCM market during this period.
Get Real Time Prices of Vinyl Chloride Monomer (VCM): https://www.chemanalyst.com/Pricing-data/vinyl-chloride-monomer-69
Asia:
The fourth quarter of 2023 posed challenges for the Vinyl Chloride Monomer (VCM) market in the APAC region. Several significant factors influenced prices and market dynamics. Initially, there was a constrained supply of VCM, intensifying competition among buyers. Plant shutdowns, including the maintenance plant shutdown at Formosa Plastics Corporation in the USA, contributed to this limited supply. VCM demand varied from moderate to high, driven by seasonal consumption in the construction and packaging industries in October 2023. However, subdued demand in the downstream PVC industry across the Asian market in December and November 2023 led to a decline in VCM prices. Uncertainty in downstream production dampened earlier expectations of increased demand, resulting in sluggish consumption in the domestic market. As a consequence, VCM sellers faced narrow profit margins in the final quarter of 2023. Traders acquired purchases at reduced prices, and the overall transaction scenario remained unsatisfactory. Additionally, there was a significant drop of over 3% in international crude oil futures. The latest price of Vinyl Chloride Monomer (VCM) CFR Tuticorin in India for the quarter was USD 660/MT in December 2023.
Europe:
In the fourth quarter of 2023, VCM prices in the European market experienced a decline. European VCM traders and manufacturers primarily attributed this decline to reduced demand from the downstream PVC industry. Despite concerns about freight disruptions at the quarter's end, price fluctuations remained modest. Prolonged transit times for imports were notable, as reported by a resin producer. Adequate inventory availability further impacted prices negatively. Germany witnessed significant price changes, with a bearish trend throughout most of 2023. Despite reducing operating rates to protect profit margins, suppliers struggled to boost margins due to competitive pressures from the import market. Despite production cutbacks, VCM supplies consistently struggled due to low PVC demand in Q4 of 2023. Notably, the European VCM market outperformed its global counterparts, prompting import suppliers to redirect shipments to the region during the global market downturn in November 2023.
Get Real Time Prices of Vinyl Chloride Monomer (VCM): https://www.chemanalyst.com/Pricing-data/vinyl-chloride-monomer-69
Contact Us:
ChemAnalyst
GmbH - S-01, 2.floor, Subbelrather Straße,
15a Cologne, 50823, Germany
Call: +49-221-6505-8833
Email: sales@chemanalyst.com
Website: https://www.chemanalyst.com