16 October 2007 23:59 [Source: ICIS news]
LONDON (ICIS news)-- European October liquid epoxy resins (LER) contracts were assessed slightly below September levels at €2,680-2,780/tonne FD (free delivered) NEW (northwest Europe), buyers and sellers said on Tuesday.
The October contract price for medium sized business represented a drop of €20-40/tonne, on a FD NWE basis, according to global chemical market intelligence service ICIS pricing.
The decreases came on the back of ample availability and increased competition between sellers, buyers said.
Some sellers agreed that there had been significant pressure on pricing through September, hindering efforts to hold prices steady.
At the high end of the range, numbers plateaued for four months after reaching a peak of €2,920/tonne FD NWE in January, but steady pressure from increased availability brought numbers down to €2,800/tonne FD NWE.
October solid epoxy resin prices were also assessed to have dropped to €2,580-2,760/tonne FD NWE, down €20/tonne.
Looking ahead, a few buyers said they had now settled business for the remainder of the year at stable or slightly decreasing prices.
“With demand expected to slow for the European winter and product available, and no production problems currently, there was no reason to foresee any increases,” they said.
Epoxy resins are polymers used in the manufacture of wind turbines and other items.
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