US LER likely to inch up in November - buyer

22 September 2010 00:29  [Source: ICIS news]

HOUSTON (ICIS)--US liquid epoxy resins (LER) market prices are likely to inch up in November after a flat October, a buyer said on Tuesday.

November are likely to increase to about $1.55-1.65/lb ($3,417-3,639/tonne, €2,631-2,632/tonne) from September prices of $1.54-1.62/lb, a buyer said on Tuesday.

Prices, DEL (delivered) North America, for October, however, are likely to stay flat with September, despite a lone, proposed price increase of 5 cents/lb for October, the buyer said.

“It looks like buyers have been largely successful in halting the October increase, though some contract buyers might have to pay it,” the buyer said.

While it was too early for a complete assessment of the market more than a month away, a combination of demand, feedstock costs and possible production cuts in Asia as Chinese producers seek a 20% decline in emissions by end-October drove the November prediction.

Major US LER producers include Hexion, Huntsman and Dow Chemical.

($1 = €0.77)

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By: Gene Lockard
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