Asia ECH falls $100/t on demand concerns

30 October 2008 03:43  [Source: ICIS news]

SINGAPORE (ICIS news)--Asian epichlorohydrin (ECH) prices tumbled another $100/tonne as waning demand, ample supply, and plummeting domestic prices in the key China market weighed on spot values, market sources said on Thursday.


Imports were at $1,700-1,800/tonne CFR (cost and freight) China in a thinly traded market, according to global chemical market intelligence service ICIS pricing.


Buying sentiment was weak, although some sellers had revised prices lower to entice demand. They remained on the sidelines on expectations of further price falls in the coming weeks amid crashing feedstock propylene values.


Plunging Chinese domestic prices also capped buying interest for imports, down by yuan (CNY) 2,000/tonne ($292/tonne) to CNY9,000/tonne DEL (delivered) eastern China, as producers continued to cut prices amid mounting inventory pressures. 


“Demand is very slow right now, and there is no buying interest for imports as cheaper-priced local material is readily available”, a Chinese trader said in mandarin.


 ($1 = CNY6.84)


For more on ECH  visit ICIS chemical intelligence


Please visit the complete ICIS plants and projects database


To discuss issues facing the chemical industry go to ICIS connect

By: Liu Xin
+65 6780 4359

AddThis Social Bookmark Button

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