03 October 2011 10:17 [Source: ICIS news]
BERLIN (ICIS)--Over-cautious buyers may be harming the European ethanolamines business, market players said on Monday.
Nervousness over the eurozone debt crisis has created an overly-cautious atmosphere so customers are only purchasing the bare minimum and looking at the short term.
Traders and producers, while understanding these concerns, worry that this could turn into a self-fulfilling prophecy.
“If players stop buying, anticipating a decrease, it will come,” said one ethanolamines producer on the sidelines of the 45th annual European Petrochemicals Association (EPCA) meeting.
An ethanolamines trader said the market has not actually changed much and should be well placed to survive any further setbacks, given the multitude of end use products it goes into, including surfactants, paints, agriculture and personal care.
“There’s a lot of psychology going on as people are nervous and the market is sensitive,” said the trader.
Customers are looking for €10-50/tonne decreases on ethanolamines prices for October. Monoethanolamine was pegged at €1,450-1,500/tonne FD (free delivered) NWE (northwest ?xml:namespace>
($1 = €0.75)
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