11 December 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--European n-butanol (NBA) spot prices have fallen €10/tonne ($15/tonne) this week due to sluggish domestic demand, market sources said on Friday.
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NBA spot prices were assessed down €10/tonne at the high end by global chemical market intelligence service ICIS pricing, to create a range of €790-820/tonne FD (free delivered) NWE (northwest Europe).
European producers confirmed domestic butanol spot trade was slowing, but primarily talked of stable spot prices.
One producer added that European NBA prices were being supported by the swift export trade to
This outlet had already proved to be a valuable one for producers as the year end approached and European demand slowed.
However, traders and buyers gave more bearish assessments of the European market and played down the impact of high Asian demand.
“It is extremely quiet. Everybody tries to keep stocks as low as possible for the year end and we only have a maximum of a week to go before everybody goes on holidays,” said a European trader who reported spot prices ranging €780-790/tonne FD NWE.
An NBA buyer said there was plenty of product on offer in NWE and reported securing NBA at a price in the €760s/tonne FD NWE for prompt delivery.
“The people in Asia are very hungry, but this factor in w
($1 = €0.68)
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