26 March 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)-- European butyl glycol (BG) and butyl di-glycol (BdG) spot prices firmed by €10/tonne ($13/tonne) this week due to tight supply, sources said on Friday.
Buyers reacted with dismay, as the price increases went through despite sluggish demand.
“This is typical of producers - [they’re] always trying to get more profit from less volume,” said one customer.
BG was assessed at €1,160-1,180/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Methoxy propanol (PM) also strengthened by €30/tonne to €1,050-1,070/tonne FD NWE, and methoxy propanol acetate (PMA) by €20/tonne to €1,170-1,190/tonne FD NWE, market players confirmed.
Customers lamented the scarcity of Asian and US imports, due to a strong US dollar, high shipping costs and firm Asian and US prices, which gave European producers leverage in negotiations.
“If we don’t see a price rise we will walk away from the business,” stated one producer.
($1 = €0.75)
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