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VFY market generally performed well in 2022 when the price was gradually climbing up coupled with increasing sales. There was faster price rise in the first half of the year, and the price began to stabilize in the second half of the year with slower sales.
As for downstream demand, VFY market was gradually closed for Chinese Lunar New Year holiday in Jan and downstream plants gradually suspended operation after building up stocks, which had not resumed until mid-Feb. However, the new wave of COVID-19 infections in some regions of China affected the pr
