China's July VAM exports drop 24.5% MoM

China's VAM exports fell 24.5% MoM to ~20 kt in July, with average prices plunging to $841.8/t (GACC, OilChem). India's buying may slow after its 7.5% tariff was reinstated on July 1, while deep-sea routes to Europe and the Middle East have opened. The drop stems from ample domestic supply, arbitrage shifts, and Middle East supply gaps, but key drivers remain the domesticinternational spread and overseas operating rates.

According to the data of General Administration of Customs of the People's Republic of China (GACC), China's vinyl acetate monomer (VAM) exports dropped 24.5% month-on-month to around 20 kt in July, while the average export price plunged to $841.8/t from $1,181/t in June. China VAM Exports & Export Avg. Price,