E China epoxy resins fall $73/t on weak demand

16 July 2008 06:27  [Source: ICIS news]

SHANGHAI (ICIS news)--Solid epoxy resin E-12 (604) prices have fallen CNY300-500/tonne ($44-73/tonne) to CNY20,000-20,500/tonne in Huangshan, east China on weak demand, traders said on Wednesday.

Most small-sized solid epoxy resins producers in Huangshan had shut down their units, which had reduced total production in the area to around 30-40%, traders said.

Demand from the downstream powder-coating sector was weak in July, as it was in a seasonal slow down and exports had also fallen, they added.

Producers of both solid epoxy resins and powder coating were facing a financial crisis due to the poor demand, a producer said.

Feedstock bisphenol A (BPA) and epichlorohydrin (ECH) prices have been declining for several weeks, which also impacted the solid epoxy resins market, he added.

Jenny Yi from CBI contributed to this article

($1 = CNY6.82)

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