28 May 2008 06:26 [Source: ICIS news]
SINGAPORE (ICIS news)--Japanese caustic soda producers aim to increase their domestic offers by another $70-100/dry metric tonne (DMT) to more than $400/DMT on strong demand and a robust export market, traders said on Tuesday.
Japan’s domestic prices of caustic soda in May have already increased $70/DMT over the previous month to $300-350/DMT delivered (DEL) but producers are seeking to further narrow the gap between domestic and export prices, which have surged by 65% in the past year.
“Local demand for caustic soda is strong, such as from the paper and detergent manufacturers but domestic prices are still lagging export prices,” a Japanese trader said on the sidelines of the Asian Petrochemical Industry Conference (APIC) in Singapore.
Asian caustic soda was last week assessed at $440-450/tonne FOB (free on board) NE Asia with most traders and producers expecting further price increases.
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