12 July 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European July epoxy resin contracts have settled €100/tonne ($141/tonne) below the June contract price because of falling feedstock costs, market sources said on Tuesday.
This brings liquid epoxy resin (LER) prices down to €2,900-2,950/tonne FD (free delivered) NWE (northwest ?xml:namespace>
July solid epoxy resins (SER) have reduced at the same rate and now stand at €2,950-3100/tonne.
Market players are concerned about struggling southern European economies and a sluggish economic recovery Europe-wide. In addition, the European holiday season in August is also expected to slow demand.
Currently, demand is healthy for both SER and LER, although signs of a slowdown are beginning to show, sources said.
The contract price reduction was due to declining feedstock bisphenol-A (BPA) and epichlorohydrin (ECH) costs and improving supplies.
Raw material supplies in Europe have improved due to increasing BPA imports from
"The extra BPA imports from
($1 = €0.70)
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