03 February 2010 17:29 [Source: ICIS news]
LONDON (ICIS news)--Weak demand and limited supply meant that the European melamine market was largely in balance, sources said on Wednesday.
“Demand for Q1 has slowed down compared to Q4,” a producer said. Several buyers confirmed this when they said that they had enough stocks available for the rest of the quarter, adding it was unlikely they would have any additional demand for spot supplies during the quarter.
Meanwhile, supply was also cut back this week.
Polish producer Pulawy confirmed on Wednesday that the planned start up of one of its three lines in ?xml:namespace>
A source at the company added that it was hopeful a rescheduled restart for either 5 or 6 February would be more successful. The line in Pulawy has an approximate nameplate capacity of 30,000 tonnes per year, or one-third of Pulawy’s total capacity, and has been down since 5 January.
Meanwhile, a source at Borealis confirmed this week that one of its low-pressure lines in
At the same time, the company was suffering from a production problem at another line in
Domestic spot activity was not reported this week. However, prices were pegged €30/tonne higher at €980-1,050/tonne FD (free delivered) NWE (northwest
First quarter contracts were agreed last week at €1,020-1,100/tonne FD NWE.
($1 = €0.72)
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