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 ?xml:namespace>
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)Please visit the complete ICIS plants and projects database
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|