15 July 2008 21:57 [Source: ICIS news]
HOUSTON (ICIS news)--US demand for basic liquid epoxy resin (LER) has remained firm despite price increases totalling as much as 11% in June and July, distributors said on Tuesday.
“Customers are buying, but they are shopping around,” a distributor said.
Another distributor said epoxy resins demand was still robust, even as higher petrochemical prices dampened buying interest for other products.
“Most of the [epoxy resin] increases seem to be implemented, and producers are pushing for more,” the source said.
An LER producer said demand typically peaks in the early summer, and any impact from the sluggish economy or high resin prices would likely not materialise until later in the season.
US distributors indicated fresh spot business for imported bulk LER was around $1.65-1.68/lb ($3,638-3,704/tonne, €2,292-2,334/tonne) DEL (delivered). By comparison, bulk spot prices were $1.54-1.62/lb DEL in early June, according to data from global chemical market intelligence service ICIS pricing.
Solid epoxy resin (SER) prices were $1.60-1.66/lb DEL, although some sources said material was still available in the upper $1.50s/lb DEL.
A distributor said the gap between SER and LER pricing seemed to be narrowing with the recent across-the-board price increases.
Major US epoxy resin producers include Dow Chemical, Hexion Specialty Chemicals and Huntsman.
($1 = €0.63)
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