E China ECH falls CNY500-800/t on high inventory

16 July 2008 08:49  [Source: ICIS news]

SHANGHAI (ICIS news) -- East China domestic epichlorohydrin (ECH) prices have fallen by yuan (CNY)500-800/tonne ($73-117/tonne) since the beginning of the week on high inventories, traders said on Wednesday.

 

ECH prices were assessed at CNY14,000-14,500/tonne ex-warehouse (EXWH), they added.

 

Qilu Petrochemical in eastern Shandong province had announced its contract settlement price at CNY14,500/tonne EXWH east China on Wednesday for sold cargoes during 4-15 July, a company official said.

 

Xinyue Petrochemical, also in Shandong province, Anbang Petrochemical in Jiangsu province, east China, and Tianjin Chemical in north China had not released settlement prices since the beginning of July and were still using the delayed settlement price of CNY 15,300/tonne.

 

Supply outstripped demand, resulting in high inventories for many producers and some deals were heard done at even below CNY14,000/tonne EXWH east China.

 

"Feedstock propylene slid in China domestic market, impacting buying interests," one buyer said.

 

Downstream epoxy resins remained at low operating rates leading to weak demand in the short term, he added.

 

Jenny Yi from CBI contributed to this article

 

($1 = CNY6.82)

 

To discuss issues facing the chemical industry go to ICIS connect

For more on ECH visit ICIS chemical intelligence

By: Amanda Zhang
+65 67804359

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 2 November 2009)

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.

Printer Friendly