19 April 2010 20:56 [Source: ICIS news]
HOUSTON (ICIS news)--Continued tight supplies and growing demand sent North American melamine prices higher by an average of 13.5 cents/lb for second-quarter contracts, sources said on Monday.
Second-quarter prices for melamine increased in a range of 12-15 cents/lb ($265-$331/tonne, €196-245/tonne), depending on contract terms, sources said.
The second-quarter contract price range of 92.50-107.00 cents/lb is close to the 93.00-104.50 cents/lb price range the same time last year.
Several second quarter sales were reported at increases of 10 cents/lb, but these sales could not be verified by market sources.
New regulations in California on stationary formaldehyde emissions continued to be a driver for the melamine market as wood panelling makers and others cut back on formaldehyde use.
Cytec Industries produces melamine in the US.
($1 = €0.74)
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