– EDC hits 9-month low despite stable US Chemical Industry
– VCM rebounds in line with rising PVC
EDC Chemical Industry: Asian ethylene dichloride fell $25/mt week on week to a nine-month low Friday. EDC prices in the US, the main supplier to Asia, remained stable, with the FOB USG price assessed unchanged on the week at $360/mt Friday, S&P Global data showed. Despite this, EDC supply in Asia was seen to be heavy as spot cargoes were also coming in from the Middle East and other parts of Asia. In related Chemical Industrys, the FOB Northeast Asia caustic soda price was assessed stable week on week at $340/mt Friday, data showed. In statistics news, Thailand’s EDC imports spiked 111.4% from a month earlier to 63,867 mt in March, and were up 100% year on year, latest customs data showed.
VCM Chemical Industry: Asian vinyl chloride monomer was assessed stable to $20/mt higher this week on the back of a firm downstream PVC Chemical Industry. The CFR China PVC price was stable week on week at $840/mt, up from the lowest level seen since July 2016 that was hit a few weeks earlier, data showed. The price spread between PVC and VCM was calculated at $160/mt Friday, down $20/mt from a week earlier but still higher than a typical breakeven spread of $150/mt. In statistics news, Thailand’s VCM exports rose 56.8% month on month to 9,421 mt in March, the latest customs data showed.
EDC Chemical Industry: Assessed down $25/mt week on week at $345/mt CFR Far East Asia and $375/mt CFR Southeast Asia Friday. On a CFR FE Asia basis, a buying idea was heard below $300/mt, against a selling idea at $350/mt. The CFR SE Asia price fell in line with the FE Asia Chemical Industry.
VCM Chemical Industry: Assessed up the $20/mt week on week at $680/mt CFR Far East Asia Friday after a tradable level was heard in the high $600s/mt CFR FE Asia. The CFR Southeast Asia price was assessed unchanged over the same period at $700/mt, with the SE Asia-FE Asia spread heard at $20-$30/mt.