Texas (USA): Vinyl Acetate Monomer (VAM) prices ended on a higher note in the first quarter of FYxx-xx as supply tightening and downturns continued. Demand sluggishness persisted throughout the period, though green shoots in Europe and Asian markets by the end of the period allowed US suppliers to undertake another rate hike before the shipping off-season begins.
The first week of April xxxx was marked by a slowing of newer VAM deliveries for the coming quarter to Europe and Latin America. Domestic demand has also slowed down due to sufficient inventory stock for the current nature of the supply situation, owing to the emerging geopolitical situation in the Middle East.
In US markets, prices of VAM continue to be supported by supply tightening due to force majeure of LyondellBasell to keep the prices afloat, as US suppliers suspect Chinese oversupplies could flood the market...
