12 July 2006 11:02 [Source: ICIS news]
LONDON (ICIS news)--European July adipic acid contracts have settled at an increase of €80-100/tonne on the back of a tight market and high benzene prices, buyers and sellers said on Wednesday.
Producers pushed for increases after the July benzene contract price rose €40/tonne to €850/tonne free on board (FOB) Northwest Europe (NWE). However, they added that supply shortages had played a more central role than raw material costs in boosting adipic acid prices.
July contract prices were assessed at €1,530-1,600/tonne free delivered (FD) NWE, by global chemical market intelligence service ICIS pricing.
The European adipic acid market has remained tight for several months on the back of various production problems. Although a few buyers commented that availability was showing slight signs of improving, producers said they would face supply shortages for the rest of the year.
Some producers said that this would partly be due to upcoming maintenance shutdowns, adding that prices would therefore remain firm.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections