The Price Hike for Vinyl Acetate Monomer in AsiaSep 5th, 2017
With the reference to the market source, ICIS reports that price for vinyl acetate monomer (VAM) across Asia has advanced at a four-digit level which was last witnessed in 2015. First off, the price for a key raw material for ethylene vinyl acetate production has grown due to the limited raw material supply and its rise in the cost.
The sources tell that manufacturers are getting a vast number of orders from Europe and South America thus increasing VAM price.
Such companies as Sinopec and Celanese have already announced the price increase in China and outside at the beginning of September. In China, the price for VAM from Sinopec has been doubled. On 1 September it grew by $77 per tonne and further has risen by $ 200 per tonne. Celanese has raised the VAM price by $77 per tonne for Chinese consumers and by $100 for other Asian traders. August price for VAM, estimated at $980-1000 per tonne, shows that it grew by $30 compared to the previous summer months.
The sales of Chinese ethylene-free products have also grown due to the CNY rise against the dollar. The tonne of ethylene-free material is estimated at $1000; however, the cutback in production resulted in scarce volumes of spot goods for export.
In October suppliers will offer VAM to the key markets in South and South-East Asia at $1.100 per tonne which is by $30 more compared to September price. In return for growing prices, Asian end-users report that they are going to minimize the volume of purchases.