Asia epoxy resins roll over in Aug on slow demand

30 July 2008 09:02  [Source: ICIS news]

SINGAPORE (ICIS news)--Asian spot epoxy resins were largely rolled over at $3,000-3,050/tonne in August amid weak downstream demand and falling domestic prices in the key Chinese market, market sources said on Wednesday.

Producers had earlier targeted price increases of $50-100/tonne on a cost and freight (CFR) China basis in August, following July price hikes of up to $100/tonne on the back of high upstream costs and poor margins.

Nevertheless, most producers acknowledged that it was difficult to implement further price hikes next month due to strong buyer resistance and weak downstream demand.

Falling Chinese domestic prices continued to dampen buying interest for import cargoes, market sources said.

In the Chinese domestic market, spot liquid epoxy resin fell yuan (CNY) 500/tonne ($73/tonne) to CNY23,000-23,500/tonne DEL (delivered) eastern China on ample supply and strong price competition among local producers, market sources said.

($1 = CNY6.83)

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By: Liu Xin
+65 6780 4359

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