02 September 2009 21:25 [Source: ICIS news]
HOUSTON (ICIS news)--US caustic soda contract prices for August business settled down by $50/dst (dry short ton) on low demand, market sources said on Wednesday.
The price drop resulted in an August contract assessment of $125-200/dst ($114-182/tonne or €80-127/tonne), according to global chemical market intelligence service ICIS pricing.
Producers said the wide range developed from ongoing attempts to move supply into balance with demand.
Buyers did not comment on support factors, but confirmed doing business within the spread.
Both buyers and suppliers said August business had demanded inventory management above most other factors. Both segments described US demand as tepid.
US caustic soda producers include Formosa Plastics, Georgia Gulf, Olin, and Dow Chemical. Buyers include Lanxess and Huntsman.
($1 = €0.70)
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