08 June 2005 17:45 [Source: ICIS news]
HOUSTON (CNI)--US June prices for bulk flexible slabstock polyether polyol are holding at historic highs of 84-89 cents/pound ($1,852-1,962/tonne) delivered for the third consecutive month, market sources said Wednesday.
Buyers said flexible polyol prices reached historic levels in March when they passed the 80 cents/pound mark.
Historical data from global market intelligence and pricing service ICIS-LOR* shows that June 2003 prices of 66-76 cents/pound delivered were the highest level reached before current levels.
Polyol prices in last 12 months have risen by 24 cents/pound, with average prices of 86.5 cents/pound this month - nearly 38% higher than average June 2004 prices of 62.5 cents/pound.
Market participants said prices had increased steadily since the 2004 second half on the back of stronger than expected demand and tight supply.
*ICIS-LOR is part of the same publishing group as CNI.
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