03 December 2008 23:59 [Source: ICIS news]
LONDON (ICIS news)--European December flexible polyols prices fell by another €50/tonne ($63/tonne) this week due to extensive destocking, a producer said on Wednesday.
“Prices are falling at such a level as a result of destocking in the run-up to Christmas. It’s not the case that demand is down, people are just trying to shift their inventories as early as possible,” the producer said.
Original reduction estimates were around the €20-30/tonne mark but widespread confirmation showed the figure to be higher.
The flexible polyols price level was reassessed by global chemical market intelligence service ICIS pricing and is now pegged at €1,620-1,700/tonne, FD (free delivered) NWE (northwest Europe).
However, the rigid polyols market remained stable in December and rolled over, with prices standing at €1,755-1,825/tonne FD NWE.
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