12 December 2008 13:25 [Source: ICIS news]
LONDON (ICIS news)--The European bisphenol A (BPA) market continued to be plagued by weak demand despite a significant price drop in November, market sources said on Friday.
“Price wise, nothing has changed during the last few weeks, and even attractive prices do not matter as the demand is not there,” said a source.
November contract settlements for BPA were assessed at €950-1,100/tonne (1,267-1,467/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
There had been little-to-no activity in the marketplace in December as players continued destocking inventories to improve cash flow, and numerous sources expected this to continue into the new year.
A supplier source said that it had only been producing to meet outstanding long-term contracts and necessary obligations.
An upturn in prices for Asian material had made imports from that region less compelling for buyers.
According to one trader, there would also be less BPA from
In addition, said the trader, the reopening of a major polycarbonate plant in the region could significantly boost domestic captive demand.
Other sources said they felt that current reductions in operating rates were not significant enough to help rectify the oversupply in the market, given the massive slump in downstream demand.
($1 = €0.75)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|