Vinyl Chloride Monomer (VCM) prices experienced a pause in the Asian market during January xxxx, supported by stable downstream PVC demand and limited supplies. Further, shippers and exporters in Asia are expressing worries related to the Red Sea, as rising freight rates, stemming from a shortage of container vessels, are affecting transactions within the downstream PVC industry.
During the first half of February xxxx, Currently, the Asian VCM market participants have halted price movements due to the narrowing gap between demand and supply, which has become a critical factor. In a noteworthy development, upstream crude oil prices have experienced an upswing, reached their peak and settled at high levels. The March contract for West Texas Intermediate rose by xx cents, equivalent to a x.xxx increase, closing at USD xx.xx per barrel. Simultaneously, the Brent contract for April concluded at USD xx.xx per barrel, marking a...
