07 May 2009 12:24 [Source: ICIS news]
The producer was committed to following the settlement, agreed on a free delivered (FD) northwest Europe (NWE) basis. It was concluded between another supplier and two of its consumers which were not immediately available for comment.
Whilst €530/tonne was €5/tonne below its targeted price, it remained within expectations and was a reasonable conclusion, he added.
Another producer confirmed it had also agreed to the €530/tonne with two of its customers.
One seller had originally been seeking €550/tonne for May and was confronted with lower price ideas from customers, some of whom had been determined to settle closer to €515/tonne.
Another supplier had said it would support anything over €530/tonne because of manufacturers' lack of profitability and reduced availability in
The April contract price was agreed at €502/tonne, up €7/tonne from the previous month.
Parity with Asia has traditionally been a driving force behind contract decisions in
Asian spot prices had slipped to around $555-564/tonne CFR (cost and freight) CMP (
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