ASIAN producers continue to maintain their initial March offers for VCM this week, although buyers have lowered buying bids in line with slackening PVC demand amid softer ethylene prices, as per Chemorbis. Initial March offers for VCM were announced at around US$880/ton CFR China, an increase of around US$40/ton from the February done deal level. The new offer levels were countered with buyer's bids at around US$850/ton CFR China, citing sluggish demand in China's domestic PVC market and falling feedstock costs. A month after the announcement of the initial March offers, spot VCM business remains unfinished in Asia, as producers refuse to relent from their initial offer levels while buyers lower intentions.
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