04 May 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)--European epichlorohydrin (ECH) and epoxy resin contract prices for May spiked on tight supply by €180-200/tonne ($237-263/tonne) and €300-400/tonne, respectively, market players said on Tuesday.
ECH was now pegged at €1,700-1,800/tonne FD (free delivered) NWE (northeast ?xml:namespace>
“ECH margins have been low for a long time, so many producers hope this push in prices could finally see many in profit again,” stated one manufacturer.
Standard liquid epoxy resin (LER) was now selling at €2,500-2,660/tonne FD NWE, and standard solid epoxy resin (SER) at €2,700-2,800/tonne FD NWE.
SER was even tighter and spiked harder than LER due to it requiring more feedstock bis-phenol A (BPA). Also, as there were fewer SER producers, buyers had reduced flexibility to switch to other suppliers, according to participants.
“The markets at the moment are a complete disaster, and we don’t know when this will end,” said one trader.
($1 = €0.76)
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