For the Quarter Ending June 2024
North America
In Q2 2024, the North American market for VAE Redispersible Powder experienced a significant decline in prices, driven by multiple key factors. The market faced intense pressure from cheaper imports, especially from Europe, where surplus production and aggressive shipment strategies led to a price drop. This influx of low-cost imports disrupted local pricing structures, forcing North American suppliers to lower prices to stay competitive.
Additionally, the global freight industry saw a dramatic surge in rates, adding complexity to the supply chain and indirectly affecting VAE Redispersible Powder prices. In the USA, the most pronounced price fluctuations were observed. The overall trend showed a bearish sentiment, driven by weak demand from the downstream construction industry, which continued to struggle with declining activity levels. Seasonal factors also played a role as construction spending decreased, particularly in non-residential sectors, exacerbating the downward pressure on VAE Powder prices. The correlation between reduced construction activity and lower VAE Powder prices was evident as the market tried to adjust to the diminished demand.
Compared to the previous quarter, there was a notable 6% decline in prices, reflecting ongoing challenges in balancing supply and demand. The first half of the quarter saw a more substantial price drop of 14%, highlighting the initial impact of cheaper imports and subdued domestic demand. The quarter concluded with VAE Powder Tg Harder General Grade prices at USD 1850/MT DEL Texas, marking a continued negative pricing environment. Disruptions such as the collapse of the Baltimore bridge further complicated supply logistics. Overall, the pricing environment for VAE Redispersible Powder in North America during Q2 2024 was distinctly negative, driven by external competitive pressures and internal market weaknesses.
APAC
In Q2 2024, the VAE Redispersible Powder market in the APAC region experienced a bearish pricing environment. In April 2024, the price of the product decreased by approximately 4.7%, influenced by the abundant availability of the material and a decrease in freight rates. This reduction in costs encouraged imports and ensured a smooth flow of cargoes from overseas, impacting the price trend. Additionally, demand from the downstream construction industry was low due to heavy rainfall across India, which disrupted numerous projects and decreased the need for VAE Powder. The monsoon, beginning on June 1, brought a surplus of rainfall, particularly in northwest India and the southern peninsula. However, in the last two months of the quarter, the price of the product remained stable in the Indian market. This equilibrium was maintained by a balanced demand-supply dynamic and relatively steady economic conditions. Despite minor fluctuations in market sentiment and external pressures like global shipping disruptions and geopolitical tensions, the overall pricing for VAE Powder remained consistent. The quarter concluded with the price of VAE Powder Tg Harder General Grade Ex-Mumbai at USD 1698/MT, reflecting a stable pricing environment driven by balanced market forces and a robust economic foundation.
Europe
In Q2 2024, the European VAE Redispersible Powder market experienced a notable decline driven by several key factors. A significant drop in upstream crude oil prices led to reduced production costs for manufacturers. This decline in production costs, however, did not boost demand, as the construction sector faced ongoing challenges from high interest rates and inflationary pressures. While the supply chain remained stable, with no major disruptions or plant shutdowns, global freight rates surged, adding to the market's bearish trend by increasing shipping costs and reducing overseas demand. Despite stable domestic supply levels, demand for VAE Powder remained weak, exacerbating the negative market sentiment. In Germany, where price adjustments were most evident, the market saw a sharp 6% decrease from the previous quarter, with a 14% drop in the latter half of the period. By the end of the quarter, VAE Powder Tg Harder (General Grade) FD-Hamburg was priced at USD 1800/MT, reflecting the bearish and challenging market conditions in Europe.
For the Quarter Ending March 2024
North America
In Q1 2024, the pricing of VAE Redispersible Powder in the North America region remained stable overall. Various factors influenced market prices during this period. The region experienced a steady supply of VAE Redispersible Powder, with no significant disruptions in the domestic supply chain.
However, demand for the product was moderate, with limited growth in the construction industry. The manufacturing sector faced challenges, and borrowing costs remained high. Additionally, the cost of imported material from Europe remained low due to abundant supply, contributing to the overall stability in prices. Within the North America region, the USA saw the maximum price changes for VAE Redispersible Powder. In January 2024, prices increased by 5% due to a rebound in construction costs and significant growth in ocean freight prices.
However, in February 2024, prices remained stable as the supply situation improved and freight rates declined. In March 2024, prices are expected to decrease by 4.7% due to factors such as reduced demand and lower production costs. Overall, the pricing environment for VAE Redispersible Powder in the North America region during Q1 2024 can be described as stable. While there were some fluctuations in prices in the USA, the overall trend was towards stability. The quarter-ending price for VAE Powder Tg Harder General Grade DEL Texas in the USA was recorded at USD 2150/MT.
Europe
In Q1 2024, the European market for VAE Redispersible Powder experienced stable pricing dynamics, with no significant changes recorded in the overall market. The pricing environment was influenced by factors such as improved supply, consistent demand from the construction industry, and challenges such as reduced building permits and high costs. Despite these challenges, there were positive indicators in the market, including a rebound in construction production and a surge in demand for new builds. In Germany, the pricing trend for VAE Redispersible Powder was slightly more volatile compared to the overall market. In January 2024, prices increased by 4% due to higher upstream crude oil prices and supply chain risks. However, in February 2024, prices remained stable with no change recorded. The country witnessed a moderate supply of the product domestically, but there were constraints in the supply of feedstock due to the Red Sea crises. Demand for VAE Redispersible Powder in Germany was moderate to low, with the construction industry facing challenges such as declining building permits and high costs. However, there were positive signs of recovery, including a rebound in construction production and increased demand from the downstream construction industry. Overall, the pricing environment for VAE Redispersible Powder in Q1 2024 can be described as stable. Despite challenges in the construction industry, there were positive indicators of recovery, indicating a potentially optimistic market outlook. The quarter-ending price for VAE Powder Tg Harder (General Grade) FD-Hamburg in Germany was USD 2100/MT.
APAC
The pricing environment for VAE Redispersible Powder in the APAC region during Q1 2024 has been characterized by various factors that influenced market prices. Overall, the market has seen a mix of positive and negative trends. In India, which experienced the maximum price changes, the market has been relatively stable with marginal increases and decreases in prices. Factors such as the upward trajectory of feedstock Vinyl Acetate Ethylene costs, smoother import and export activities, and positive developments in the freight sector have impacted pricing dynamics. However, global freight rates remain elevated, reinforcing the bullish trend in the market. In terms of demand, there has been an improvement, particularly in the construction industry. Sales have surged, driven by marketing efforts aimed at boosting demand. However, the market has also faced challenges such as low trading atmosphere and lacklustre demand due to inflationary pressure. Looking at the overall trends and seasonality, prices in Q1 2024 have shown stability and are expected to remain optimistic in the first month of Q2 2024. The market has been influenced by factors such as increased demand, expensive imports, and the impact of upstream crude oil prices on the petrochemical market. In conclusion, the pricing environment for VAE Redispersible Powder in the APAC region during Q1 2024 has been a mix of positive and negative factors. While there have been challenges and fluctuations in prices, overall stability and optimism are expected in the market. The latest quarter-ending price in India is USD 1789/MT of VAE Powder Tg Harder General Grade Ex- Mumbai.
For the Quarter Ending December 2023
North America
The North American market for VAE Redispersible Powder (RD Powder) faced notable challenges during the fourth quarter of 2023.
A primary contributing factor was an oversupply of the product, leading to a substantial decline in prices. This oversupply was predominantly a consequence of diminished demand from the downstream construction sector, particularly in the United States. The construction industry in the US encountered a downturn characterized by low investor confidence, resulting in reduced construction activities and a corresponding decrease in the consumption of VAE RD Powder. The market woes were further exacerbated by rising mortgage rates, which constricted the pool of potential homebuyers, thereby negatively impacting the demand for the product.
Supply chain disruptions were also a noteworthy issue, driven by a shortage of truck drivers, which led to increased lead delivery times for businesses. Despite these challenges, there were no reported plant shutdowns during the quarter. In terms of pricing, the VAE RD Powder in the USA experienced a significant 6% decrease compared to the preceding quarter, reaching a price of USD 2020/MT DEL Texas. Despite the adverse market conditions, there remains optimism within the industry that potential changes in government policies and the upcoming festive season could act as catalysts, stimulating construction activities and thereby enhancing the demand for VAE RD Powder in the subsequent quarters.
Europe
In the fourth quarter of 2023, the European market for VAE Redispersible Powder encountered a series of challenges. The most prominent factors impacting the market included stagnant demand from the downstream construction sector, an oversupply of the product, and declining prices of the key feedstock, Vinyl Acetate Monomer (VAM). The construction industry, especially the residential sector, performed below expectations, resulting in diminished demand for VAE Powder. This lackluster demand, coupled with an oversupplied market, contributed to a notable depreciation in prices. Furthermore, the declining prices of VAM added to the overall downward trend. Notably, Germany experienced significant price fluctuations, with a substantial -31% decrease compared to the same quarter of the previous year and a -6% decrease compared to the preceding quarter. Despite these challenges, there were no reported plant shutdowns in the region during this period. As the quarter concluded, the price of VAE Powder FD-Hamburg in Germany stood at USD 1990/MT. In summary, the market grappled with weak demand and oversupply, resulting in a discernible decline in prices across the European VAE Redispersible Powder sector.
APAC
The fourth quarter of 2023 (October to December) witnessed several influential factors shaping the pricing landscape of VAE Redispersible Powder in the Asia-Pacific (APAC) region. The market experienced stable supplies of the product, largely attributable to consistent imports from China, maintaining a well-balanced supply-demand scenario and averting significant price fluctuations. The downstream construction industry exhibited healthy demand, fuelled by positive business sentiments and heightened renovation activities during the festive season. However, this demand proved insufficient to absorb the existing inventories, leading to a slight depreciation in prices. Moreover, the stability in prices of the feedstock Vinyl Acetate Monomer (VAM) played a crucial role in maintaining overall production costs. In India, a key player with notable price changes during the quarter, VAE Redispersible Powder prices depreciated by 3%. This decline was primarily attributed to the availability of cost-effective imports from China, resulting in ample supplies saturating the market. Despite positive performances in the construction and cement industries, the current consumption rate fell short of reducing the existing inventories, exerting additional downward pressure on prices. Notably, the quarter saw no reported plant shutdowns, contributing to a stable production environment.
For the Quarter Ending September 2023
North America
Prices of VAE RD Powder in the North American market witnessed a bearish situation, with prices of the product depreciating by almost 14% in the third quarter of 2023 due to depreciating costs of feedstock Vinyl Acetate Monomer which depreciated by almost 32% throughout the third quarter of 2023. Demand from the downstream construction industry was low, with mortgage rates increasing to almost 7% for a fixed 15-year term. Frequent labor strikes across the US in the third quarter of 2023 continued to push back existing inventories and delay procurement activities. Construction activities across the US were largely concentrated on the maintenance of existing infrastructure, with civil engineers warning ARTBA (American Road and Transport Builders Association) of structurally deficient bridged and antiquated water, which posed significant safety risks. This current rate of low consumption against moderate supplies presented an oversupplied market for VAE RD Powder, because of which prices depreciated drastically, and the market situation is expected to remain bearish because of the stymied construction sector.
APAC
Prices of VAE RD Powder have witnessed a bearish trend in the Asian market, with prices of the product depreciating by more than 7% throughout the third quarter of 2023. Even though the performance of the construction industry was much better in South Asia, the current consumption rate proved to be insufficient for the mitigation of existing inventories. Moreover, key market players in the cement industry reported healthy sales in the 2nd quarter of 2023, with a healthy performance likely to extend towards the third quarter of 2023. Moreover, appreciating the prices of VAM also played a key role in the existing bearish trend for VAE RD Powder because expensive imports of VAM existed across Asia from Singapore. Purchasing sentiments were further hurt as imports of upstream Crude Oil became expensive by approximately 25%, which deterred procurement activities as the rate of consumption was slower than anticipated. Overall, the current improvements in the cement sector of the construction industry were insufficient to transform the current bearish situation of the prices of VAE RD.
Europe
Prices of VAE RD Powder In the European market witnessed a bearish situation and depreciated by almost 14% in the third quarter of 2023. This was largely due to depreciating prices of feedstock Vinyl Acetate Monomer, which also declined by almost 10% in the 3rd Quarter of 2023. Demand from the downstream construction industry was largely slow. This was largely due to the disappointing performance of the construction industry across Europe, with minimal trading across the Eurozone. With major construction firms based across the Netherlands, France, and Germany being on the verge of bankruptcy, the consumption rate of VAE RD powder was drastically reduced. Moreover, issues of transportation persisted across Germany as water levels of the river Rhine fluctuated during the Heatwave of July 2023, which delayed cargoes and the railway system requiring heavy maintenance and being understaffed. The only demand for the product arose from the maintenance of existing infrastructure and refurbishment of existing buildings as new permits overall declined. The rising of E-Commerce activities did necessitate the building of warehouses for logistic purposes, but that proved to be insufficient to transform the current bearish market situation of VAE RD Powder.
For the Quarter Ending June 2023
North America
Prices of VAE Redispersible Powder witnessed an overall decline of 2% towards the beginning of the second quarter of 2023, with the market situation being mixed. The bearish trend at the starting of the second quarter was attributed to the low demand from the downstream construction and adhesive industries which was due to pessimistic outlook on the market sentiments about the US economy entering into recession and weak demand from the international market as well. Also, the reduction in the prices of crude oil and in the feedstocks, that are ethylene and vinyl acetate monomer (VAM), further eased production. Hence as a result traders were experiencing an oversupplied market during sluggish domestic and international demand. However, towards the end of the second quarter, a hike in demand from construction led to the bullish situation from May to June. The rebound of economy in the housing sector led to a shortage of inventories in early June which compelled the manufacturers to sell their products at good profit margins. The final price of VAE Redispersible Powder was evaluated at USD 2456/MT DEL Texas.
APAC
The market situation for VAE Redispersible Powder was bearish throughout the second quarter of 2023, with prices witnessing a decline of more than 5%. The primary reasons were attributed to the declination of freight charges which made ample availability of inventories and fall in the prices of ethylene and vinyl acetate monomer (VAM). Furthermore, the reduction in the costs of crude oil prices also aided in the depreciation of VAE Redispersible Powder. Supply was recorded to be optimum as production units ran at full capacity and no disruptions in the supply chain or bottlenecks were identified. However, demand remained largely on the negative side due to minimum purchasing activities in the domestic market, muted export orders from overseas and the rise of inflation and CPI by approximately 5%, due to insufficient rebound of the economy. The increment in inflation also casted a negative outlook towards the consumers and downstream industries which further contributed to the reduced purchasing activities and compelled manufacturers to sell products at discounted prices in order to mitigate excess inventories, thereby diminishing profit margins. The final price of VAE Redispersible Powder was evaluated at USD 2015/MT Ex-Mumbai.
Europe
The market for VAE Redispersible Powder witnessed a bearish situation with prices declining by over 5% in Europe. Supply was recorded to be within the optimal levels as production rates were smooth as prices of ethylene were at an all-time low and no conundrums were encountered in the supply chain systems. However overall demand remained weak despite being modest in the construction sector and almost being negligible in the sealant and adhesive industries. This demand was insufficient in contributing to the upward trend of VAE Redispersible Powder. Moreover, demand from international offtakes also looked bleak, due to a further increment of 5% in the interest rates. Towards the end of the second quarter, an oversupplied market for VAE Redispersible Powder was recorded in the face of limited consumption, which was due to negative sentiment towards the insufficient growth of the European economy because of which production was limited to mitigate excess inventories. The final prices for VAE Redispersible Powder were assessed to be USD 2519/MT FD Hamburg.
For the Quarter Ending March 2023
North America
The price of VAE RD Powder in the US market declined over the first quarter of 2023 due to a combination of factors such as declined raw material VAM prices, slow demand from the construction sector, and economic pessimism after the collapse of two major banks. The market situation was bearish, with moderate to low supply and moderate to low demand for the product. Discounts were offered by traders to initiate offtakes. Overall, the North American market has been experiencing frequent price revisions and market shifts, with prices falling by around 2.2% in March 2023 to USD 2640/MT.
Asia
The VAE RD prices in India saw a significant increase in January, followed by a moderate rise in February and March. The price hikes were driven by an increase in demand from downstream construction industries, particularly during the seasonal demand surge. The market situation remained bullish, with moderate supply and moderate to high demand. The stable economic activities in the country and uninterrupted production activities contributed to supply stability. The positive market sentiment is expected to result in further price increases in the upcoming months. The high demand and improved performance of downstream industries have also contributed to the current trajectory of price movements.
Europe
In January, traders in Europe raised their offers to tackle high inflationary pressure, but inflation has since eased down. In February, the German market experienced a bearish trend with low demand due to seasonal lull, slow economic activities, and the winter season. In March, the German market experienced a significant decline in prices due to uncertain market fundamentals, moderate to low demand, and oversupply. The supply of the product remained stable to high throughout this period. The overall market situation was stable in January but turned bearish in February and March due to low demand and oversupply.
For the Quarter Ending December 2022
North America
Due to the availability of products in the country and poor demand from both the domestic and international markets, the price of VAE Redispersible Powder declined throughout the fourth quarter of 2022. According to market sources, traders were receiving cheaper shipments as a result of the global pessimism surrounding the recession, particularly in the USA and Europe. Additionally, despite the festive holidays, demand remained weak, and traders already had ample cargo for December. However, several raw material prices were seen to be rising due to temporary shortages induced after polar storm Elliot that affected some parts of the country but didn't affect the price trend of VAE Redispersible Powder.
Asia
Sodium Silicate, like other commodities, had a fall in price on the Asian market in Q4 2022. According to the data, the price of VAE Redispersible Powder effectively decreased in line with the decline of its raw material Vinyl Acetate Monomer (VAM). The pricing dynamics of various commodities, including VAE Redispersible Powder in the Chinese market this quarter, have been impacted by the abundance of product supply in the nation. Additionally, dealers had sufficient product supply to meet all domestic and international market demands. The product's demand continued to be moderate, and in November, compared to earlier months, there was a slight improvement. However, the product's wide availability prevented any favorable price variance throughout the nation.
Europe
Low demand from the downstream construction industry declined VAE Redispersible Powder prices again this quarter. Low energy prices in the region are another major factor that drives the market. The Power Purchase Agreement (PPA) market declined 15% in December 2022 due to lower heating needs and robust gas supplies in Europe; no energy shortage was noticed at this time. As a result, the cost of a number of goods, such as VAE Redispersible Powder, effectively dropped and stayed low throughout the quarter. A considerable decline in activity was seen in the construction sector for a number of reasons, including poor purchase orders, recessionary concern, and the onset of the winter season's cyclical slowdown.
For the Quarter Ending September 2022
North America
The data shows that VAE Redispersible powder price has maintained stability with a marginal hike of fluctuation throughout the third quarter of 2022 in the USA, owing to prolonged inflationary pressure and fluctuating input expenses. However, demand fundamentals for the product declined in the regional market due to a steep fall in construction activities in the country. However, the country's producer price index has eased by the first week of July 2022, primarily driven by declined prices of lumber and concrete in the regional market. Furthermore, prices rose marginally during July and kept on tumbling till the rest of the quarter. Thus, VAE Redispersible powder was heard hovering around USD 3215/MT during September 2022.
Asia
As per the market sources hinted in the previous quarter, the price of VAE RD polymer rose effectively during the month of July 2022, owing to rising inflationary pressure on converters amidst stable supplies. The demand dynamics for the product were heading towards a dullness as the monsoon season was arriving in the country. However, slow offtakes led the price to show a decline in the domestic market during the first week of August, which was rising earlier. Additionally, traders hinted that, due to slow demand, VAE RD prices might witness further negative revisions in the coming months. Conclusively, VAE RD prices hovered around USD 2899/MT Ex-Mumbai during September 2022.
Europe
Despite the fact that the regional market of Europe was facing the threat of stagflation which was expected to turn into a recession, VAE RD prices remained stagnated with marginal price revisions throughout the third quarter of 2022. As per the market sources, demand dynamics for the product slowed down as the procurers are delaying procurements and opting for a wait-and-see approach. However, the threat of recession in the market was bothering regional key players; thus, no such increment or huge price hike was observed during this quarter. Thus, post witnessing a marginal hike, VAE RD price assessed around USD 3295/MT during this September.
For the Quarter Ending June 2022
North America
The North American construction sector has been hampered due to global market disturbances that affected the pricing dynamics of several construction raw materials, including VAE Redispersible powder in the US market. As per the data, marginal yet consistent price hikes were observed for VAE Redipersible powder during Q2 2022, owing to protracted inflationary pressure on domestic manufacturers. During the first half of the quarter, the producer price index rose effectively and reached a record high value, which later slipped again as an after effect of threatening recession outlook. In addition, the demand outlook remained dull throughout this timeframe in the US and Canada, as consumers were delaying procurements due to high costs of raw materials, which eventually turned into weak economic activities.
Asia
VAE Redispersible powder prices remained buoyant throughout the quarter in the Asian market, while demand dynamics showcased mixed sentiments for different economies. As per the data, a significant hike was observed in the Indian and Chinese markets, bolstered by rising inflation and optimistic demand dynamics. In India, there were no such pandemic-related qualms, which supported the positive demand from niche buyers. However, despite effective recovery from the pandemic-related devastations in China, the domestic construction sector struggled to recover. Consequently, demand fundamentals for the product remained gloomy in the Chinese market during Q2 2022.
Europe
During this quarter, the European market remained hesitant about the demand for VAE Redispersible powder. A major market source revealed that most commodities were primarily rising due to the ongoing war crisis in the region, which led to a steep and continuous rise in energy prices. Furthermore, demand for the product remained range-bound as construction activities eased down under high raw material costs and maintained overall sluggishness in the market. Thus, the data shows this quarter's marginal price increments for VAE Redispersible powder in the European market.
For the Quarter Ending March 2022
North America
The price rise of Vinyl Acetate Ethylene redispersible powder abetted by government infrastructure development proposed during the fourth quarter of 2021 elevated the demand of construction products like Vinyl Acetate Ethylene redispersible powder during the Q1 of 2022 in the American market. The upstream Ethylene price in the American market was peaking till January and prices started to drop owing to ease in refinery margins stabilized demand and continued supply chain disruptions throughout the quarter, albeit with improved rail car availability, despite the decrease in upstream price during the first quarter of 2022 in the American market the price of Vinyl Acetate Ethylene redispersible powder price was rising on the back of strong sentiments from the downstream construction sector during Q1 of 2022. As per ChemAnalyst data, VAE RD assessed around USD 2950/MT during March 2022.
Asia Pacific
The Prices of Vinyl Acetate Ethylene redispersible powder in the Asian market was mirroring the upstream Ethylene market and was rising throughout the first quarter of 2022. In China despite the dull demand from the downstream construction sector owing to the winter Olympics held in Beijing, the upstream ethylene market was strong enough to keep the Vinyl Acetate Ethylene redispersible powder price from dropping in the first quarter of 2022. In the Indian Market, the prices of Vinyl Acetate Ethylene redispersible powder price was increasing on the back of strong market sentiments for the downstream construction materials during Q1 of 2022. VAE RD prices hovered around USD 3040/MT in India during March 2022.
Europe
In the European market the prices of Vinyl Acetate Ethylene redispersible powder were soaring due to high upstream Ethylene prices on the account of sky-rocketing feedstock natural gas price because of sanctions on imports of Russian gas and oil by various European countries as a sign of opposition of Russia's invasion of Ukraine. The home improvement sector in Europe during Q1 of 2022 was performing well where of Vinyl Acetate Ethylene redispersible is widely used in construction materials, due to high demand from end user abetting the upward trend of Vinyl Acetate Ethylene redispersible powder prices during Q1 of 2022. VAE in Europe price hovered around USD 3420/Mt during March 2022.
For the Quarter Ending December 2021
North America
North American construction sector has been tracing uptrend since a long time in the domestic market. Despite winter season induced temporary dullness to the market, rising raw material cost remained a major cause of concern for key players. Narrowing profit margin were compelling manufacturers to raise their offers, while temporary dullness resisted them from practicing frequent price revisions. In addition, global inflationary pressure was concerning key players in US market, as rising input cost were denting their profit margins. Furthermore, this inflationary pressure was driven after freezing winter storm strike US gulf coast during Q1 2021 and the aftereffect can be observed now in the domestic market. VAE RD powder assessed around USD 2840/MT in USA during December.
Asia
Indian construction sectors have been witnessing a stable demand from domestic market since past 2-3 months, post decline in pandemic cases in the country. Procurers revealed that, post decline in pandemic restriction across Indian market, domestic demand elevated under the optimism of festive season in Indian. Furthermore, market restrictions and dual energy policies in China exacerbated the overall price dynamics in Indian market, as imports were getting expensive week over week. Due to these market fundamentals, overall supply burden was shifted to Taiwan only and thus price momentum turned upward, which is still persist in India. In addition, as per market resources, rising cost of other alternative Redispersible powder also influenced the price trend of VAE RD in Indian market. VAE RD price heard hovering around USD 2875/MT during December.
Europe
European market has been witnessing disturbance due to exorbitant hike in energy cost which shook the market dynamics of the region. Due stringent scarcity of raw material amidst consistent bounce back in economic activities, prices of several commodities skyrocketed in a very small span of time. Meanwhile, Key global player like Wacker polymer increased their product price by 20% effective from November 2021 due to exponential surge in input cost. Furthermore, additional temporary surcharge was also increased to around USD 655/MT, effective in line with other price revisions. Conclusively, VAE polymer prices remained buoyant throughout the quarter in Europe during Q4 2021.
