Europe Q3 ECH assessed down €30/tonne

17 July 2007 23:59  [Source: ICIS news]

LONDON (ICIS news)--European third quarter epichlorohydrin (ECH) contracts were assessed to have settled at a rollover to small decrease, market sources said on Tuesday.

 

Contract prices were assessed at €1,680-1,720/tonne, down €30/tonne ($41/tonne) on the second quarter on an FD (free delivered) NWE (northwest Europe) basis, according to global chemical market intelligence service ICIS pricing.

 

According to a major producer, most accounts had rolled but there had been some minor decreases at the high end of the range, squeezing the overall spread of prices.

 

An ECH trader agreed, adding that the narrower range more accurately reflected the reality of a balanced-to-slightly-long market.

 

‘The difference between a small and large buyer was now almost negligible’, said the source.

 

Other producers had previously said contracts had rolled over, despite the recent increases in upstream propylene.

 

The market was balanced, according to the majority of buyers and sellers, and this was echoed in the relative ease and speed of negotiations, according to one source.

 

ECH is a feedstock used in the production of epoxy resins, as well as for water purification and paper reinforcement.

 

($1 = 0.73)

 

By: Adal Rafiq
+44 20 8652 3214

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