10 January 2006 17:46 [Source: ICIS news]
LONDON (ICIS news)--European bisphenol A (BPA) January contract prices fell Euro40/tonne on Tuesday as buyers and sellers continued to describe the market as long.
The January contract price was established at Euro1,250-1,300/tonne free delivered (FD) Northwest Europe (NWE), according to global price reporting and market intelligence service ICIS-LOR.
Oversupply in Europe was largely attributed to Asian sellers increasing exports to Europe as they continue to be faced with a weak domestic market.
A number of producers expected this to be the last price decrease before prices start picking up again as the January benzene contract price rose by 23% to Euro603/tonne free on board (FOB) Northwest Europe (NWE). But some producers forecast stable prices for the next two months.
However, buyers said the threat from Asia Pacific imports remains and will continue to place downward pressure on prices. They added that January business was conducted within the Euro1,250-1,300/tonne price spread.
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