08 February 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--February epichlorohydrin (ECH) contract prices in Europe have risen by an average of €10/tonne ($14/tonne) from January due to the €35/tonne increase in the upstream monthly propylene price, sources said on Tuesday.
ICIS assessed ECH prices in February at €1,800-1,860/tonne.
The majority of buyers and sellers agreed that values remained between a rollover and a €20/tonne increase from January, depending on the size of the customer, the starting point of negotiations and the size of the increase implemented in last month.
ECH prices in January went up by €50-60/tonne, also because of the propylene price, and one manufacturer that pushed hikes at the high end said it rolled over February contract prices as supply and demand were balanced.
On the other hand, those customers that took on a smaller increase in January faced a steeper upward price movement in February, although one customer insisted that plus €10/tonne was the maximum applied.
One producer said it implemented a €30/tonne increase for some customers, and a buyer agreed that it had taken on this amount. But the buyer said it did so only because it managed to secure a very favourable deal in January.
($1 = €0.74)
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