10 May 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European epichlorohydrin (ECH) customers settled at €10-20/tonne ($14-29/tonne) increases for May contracts, depending on how big a rise they took on in April, sources said on Tuesday.
Producers insisted that an increase had to be implemented following the €35/tonne upstream propylene rise for May, and several set €1,850/tonne FD (free delivered) NWE (northwest Europe) as the low end price target for ECH this month.
Buyers that only took on a slight increase in April and were paying below this level largely accepted this figure, though one customer said it only took on a €10/tonne rise, to €1,830-1,840/tonne FD.
On the other hand, several buyers already purchasing at this level or higher, negotiated rollovers or slight increases.
May values are therefore assessed at €1,850-1,870/tonne FD NWE by ICIS.
($1 = €0.70)
For more on ECH visit ICIS chemical intelligence
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