29 May 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--Soda ash prices in the Black Sea area have softened by $10-20/tonne (€7-14/tonne) due to weak demand which was not expected to improve in the short term, market sources said on Friday.
“Prices have been slipping bit by bit over the last few months as, to remain competitive in the poor demand climate, producers are having to reduce prices,” a manufacturer said.
Buyers agreed, saying that weak consumption from a variety of sectors, ranging from automotive to detergent, was the cause for the drop.
Current pricing was assessed at $285-305/tonne for dense and light soda ash, both on a free on board (FOB) ?xml:namespace>
Sources in the region said that prices would bottom out after June.
“Prices should stabilise in early Q3 but it is unlikely demand will perk up significantly,” a manufacturer said.
In northwest Europe, prices were stable at $325-350/tonne for dense soda ash and $325-340/tonne for light soda ash, both on a free on board northwest
“Nevertheless, demand is still feeble, and the outlook is not particularly bright,” a European trader said.
($1 = €0.72)
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|
Asian Chemical Connections