16 February 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)--European styrene acrylonitrile (SAN) contracts for February have increased by €30-50/tonne ($41-68/tonne) from the previous month due to high feedstock values, market sources said on Tuesday.
Compounding grade SAN was assessed at €1,550-1,580/tonne FD (free delivered) NWE (northwest ?xml:namespace>
In January, producers initially wanted a €150-170/tonne increase from the previous month because of high styrene and acrylonitrile (ACN) costs, but they could only achieve a hike of €100-130/tonne.
But with strong demand in the SAN market in February, suppliers were able to implement the additional price rise and recover margins, sources said.
“It is usually difficult to get price increases through in this sector. But the conditions were right, so the price went up,” said one trader.
($1 = €0.74)
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