Europe spot DEG stable-to-firm in May - sellers
28 April 2008 16:53 [Source: ICIS news]
LONDON (ICIS news)--Europe spot di-ethylene glycol (DEG) should stay stable above €850/tonne ($1,328/tonne) or even firm in May on few fresh import options and limited local supply, said sellers on Monday.
“I think prices will at least stay the same. There is little available from Russia, freight rates are very high from India and much Middle East volume is coming into the contract rather than spot market,” said a supplier.
Spot truck prices have moved up €30-50/tonne ($47-78/tonne) on a FD (free delivered) NWE (northwest Europe) basis over the past four weeks.
Distributors became nervous after the lack of prompt bulk supply triggered a sharper upturn in CIF (cost, insurance, freight) prices over the same period.
Local European DEG producers were in a shutdown period, with BASF down for much of April in
Reports of delays to imports from
Unconfirmed reports that a producer had bought significant volumes in April were also seen to have pushed price ideas up.
It was unclear what volumes would arrive in May from the
With SABIC apparently running better in
The DEG market was seen as less controversial than its larger counterpart, monoethylene glycol (MEG), where sellers were still assessing their reaction to the initial May contract agreed last week at €865/tonne FD NWE, down €105/tonne.
The bulk of producers said they were not prepared to follow the first settlement.
($1 = €0.64)
For more on DEG visit ICIS chemical intelligence
By: Edward Cox
+44 20 8652 3214
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.
Links posted in this story:
|
|
Related Articles
- 01 Aug 08 14:03 Europe DEG supply, prices to stay firm in August
- 09 Jul 08 15:28 Europe DEG market firms on limited supply
- 15 May 08 17:15 ARG pipeline seen as operational by end June
- 02 May 08 14:00 Europe May MEG could twist after initial settlement
- 22 Apr 08 00:11 Exports tighten supply, boost price of US DEG
- 21 Apr 08 04:59 China DEG users close on pollution woes
- 31 Mar 08 19:34 NPRA ’08: Europe DEG outlook brighter than MEG
- 30 Mar 08 23:55 NPRA ’08: Europe DEG set to firming MEG lead
- 17 Mar 08 23:10 MEGlobal hikes April MEG, DEG on higher costs
- 14 Mar 08 15:49 Europe DEG stability reflects MEG market
- 06 Mar 08 16:30 Sellers hope Europe DEG has hit price floor
- 07 Feb 08 12:18 Europe spot DEG falls €100/t since new year
- 21 Jan 08 15:36 Spot DEG prices to remain above MEG - seller
Latest News
- 30 Nov 09 13:00 VIDEO - ICIS news Europe Lunchtime Bulletin 30 November 2009
- 30 Nov 09 12:30 BASF starts up new CPon and CDon plant at Ludwigshafen
- 30 Nov 09 12:18 Europe oxo-alcohol export prices surge on Asia demand
- 30 Nov 09 12:14 Mitsubishi Chemical, JGC start construction of C3 pilot plant
- 30 Nov 09 12:09 Optimal Chemicals to restart butac plant by 7 December
Paul Hodges goes to the junction of Wall St and the chemical industry.
ICIS Chemicals and the Economy