04 May 2010 22:18 [Source: ICIS news]
HOUSTON (ICIS news)--Rising demand, reduced imports and tight feedstock supply have merged to create a “perfect storm” in the US epoxy resins market, sources said on Tuesday, with producers aiming to extend price gains in May.
US buyers said Dow Chemical announced a 10 cent/lb ($220/tonne, €167/tonne) price increase for epoxy resins in ?xml:namespace>
The other two major
“Everybody keeps ratcheting stuff up, it’s just ridiculous,” a buyer said.
Following Dow’s Oyster Creek phenol outage and subsequent epoxy resins force majeure, buyers expected the market to recover to balanced conditions by the end of May.
Stronger-than-expected demand and tight feedstock epichlorohydrin (ECH) supply in the
“We’ll be tight through May and June. July will be key with companies slowing down [for summer holidays and maintenance],” a buyer said.
Bulk pricing for mid-volume liquid epoxy resins (LER) buyers was $1.44-1.55/lb, according to data from global chemical market intelligence service ICIS pricing.
($1 = €0.76)
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