7th VAM-PVA & Derivatives Forum 2014
Time：2014-05-21 -05-23location：shandong qingdaoshi
Why attend?
Perspective into global market dynamics
- Up-to-date market intelligence
- Domestic and overseas markets focus
- Industry information platform
Event Highlights
International VAM market and export sustainability
Will the price hike in early 2014 create opportunities for exports?
Glacial acetic acid prices began to rise from the end of 2013. This coupled with low VAM inventories at ports pushed up VAM prices.Later, as several European VAM facilities announced to shut for maintenance, trade flow changed due to short supply there. Chinese VAM prices hiked amid short availabilities.
The price inversion opened an arbitrage window for Chinese VAM players who began to seek export possibility from the western market. How long will the price hike last for? Will Chinese VAM products be exported on a regular basis?
New capacity and regional trade flow change
How will the negative growth in production in 2013 affect the progress of new projects in 2014?
The VAM market stood in the region of CNY 6,500-7,000/mt throughout 2013. Producers cut operating rates due to tight raw material supply, higher costs and weak downstream demand. Import volume increased by 12% over 2012. But the market supply in general still reduced.
Guodian Ningxia Energy Chemical’s 450kt/yr VAM unit is expected to be commissioned in April 2014. If the unit could successfully come on stream, China’s domestic VAM production capacity will have a significant increase to reach 3.015 million tonnes by then.