28 October 2009 17:04 [Source: ICIS news]
HOUSTON (ICIS news)--Prices for fourth quarter melamine contracts rose by an average of 5.50 cents/lb ($121/tonne, €82/tonne) from the third quarter on tight supplies and indications of increasing demand, sources said on Wednesday.
Melamine contracts for the fourth quarter settled in a range of 70-83 cents/lb, up from a range of 65-78 cents/lb in the third quarter, sellers and buyers said.
New Jersey-based melamine maker Cytec Industries cited increasing feedstock costs and a tight supply/demand balance as its basis for raising its fourth quarter list prices for melamine by 6 cents/lb.
Melamine makers DSM and Borealis Agrolinz said that tight supplies in Europe and elsewhere made the fourth quarter increases a necessity.
($1 = €0.68)
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