06 July 2010 23:59 [Source: ICIS news]
LONDON (ICIS news)-- European epichlorohydrin (ECH) contract prices for July moved up by €20/tonne at the lower end of the range, as the market was still slightly snug despite an easing in upstream propylene, players confirmed on Tuesday.
In general, players reported a mix between rollovers to €30/tonne increments depending on the supplier and starting point of negotiations, and the majority of offers were heard at €1,770-1,850/tonne FD (free delivered) NWE (northwest Europe), according to ICIS.
This made July the seventh consecutive month that ECH prices have risen in Europe, but players hoped it would be the last for some time.
“Propylene is finally available, so the market will finally become more balanced now,” said one trader.
However, demand was strong from the downstream epoxy market and there was still very little product coming from eastern Europe as producers from the region preferred to supply Asia where prices were higher, sources said.
“Asian ECH prices are no longer rising so we could see Russian sellers come back to Europe soon,” said one buyer.
($1 = €0.80)
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