Asia VAM hits record low on weak demand, ample supply

摘要

SINGAPORE (ICIS)--Spot vinyl acetate monomer (VAM) prices in Asia fell to a record low this week of mid-$700/tonne levels because of weak demand and ample supply, market sources said on Friday. Most suppliers withdrew to the sidelines while buyers adopted a cautious stance amid bearish market conditions caused by plunging upstream crude and naphtha prices, they said. In southeast Asia, a deal for a 2,000-tonne China-origin natural gas-based VAM cargo was booked at below $740/tonne CFR (cost and freight) SE (southeast) Asia for early September delivery.