Asia epoxy resins up $50/t on firm feedstock costs

13 January 2010 09:32  [Source: ICIS news]

SINGAPORE (ICIS news)--Asian liquid epoxy resins (LER) spot prices increased by $50/tonne (€34.5/tonne) due to high costs of feedstocks bisphenol A (BPA) and epichlorohydrin (ECH), market sources said on Wednesday.

Prices of LER exports from northeast Asia were assessed up $50/tonne from last week at $2,000-2,100/tonne FOB NE Asia on iso-tank basis, according to global chemical market intelligence service ICIS pricing.

Producers raised their offers by $100-200/tonne for January shipment. They had planned a hike of $100-150/tonne for February cargoes due to rising costs despite moderate demand from the downstream sectors like industrial coatings to electronic laminates, traders said.

Market players said feedstock BPA and ECH spot prices had increased $550-650/tonne since the second quarter of last year while LER prices rose by $200/tonne over the same period.

Although producers were targeting high prices due to decreasing margins, they acknowledged that poor demand, amply supply and stiff price competition would cap further LER price hikes in the near term.

($1 = €0.69)

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By: Liu Xin
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