Europe solvents up on feedstock gains

30 May 2008 19:25  [Source: ICIS news]

LONDON (ICIS news)--Buyers of solvents in Europe confirmed that earlier price increases witnessed in the vessel market were now filtering through in the truck market with increases of up to 9% reported by buyers on Friday.

Pricing was reported higher in a range of €825-925/tonne ($1,269-1,423/tonne) FD (free delivered) NWE (northwest Europe) for white spirit, €800-830/tonne FD NWE for naphtha solvent and €860-900/tonne FD NWE for hexane.

Earlier gains in the energy complex had pushed values significantly higher, buyers said, adding that the only upside factor in the market was currently feedstock pricing.

With crude values coming off somewhat during the last week, however, buyers were hopeful that the uptrend would stop.

($1 = €0.65)

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By: Shelley Kerr
+44 20 8652 3214

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