04 November 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European bisphenol-A (BPA) freely negotiated November contract prices have fallen by €50/tonne ($69/tonne) because of declining feedstock costs, weak demand and ample supply, sources said.
Freely negotiated contract prices was at €1,480-1,570/tonne FD (free delivered) NWE (Northwest Europe).
Buyers said material was readily available and producers were offering BPA at a reduced cost.
Most consumers said they do not expect to see any improvements in the market until the end of the first quarter next year when restocking will begin for the new season.
Formula contracts that follow the previous month's feedstock movements have declined by €118/tonne to €1,380-1,490/tonne FD NWE.
Contracts that follow the current month's feedstock movements have declined by €41/tonne to €1,430-1,550/tonne FD NWE.
Spot prices have fallen by €50/tonne on the high end to €1,400-1,500/tonne FD NWE, as a result of subdued trading and falling feedstock costs.
Spot trading has dropped in recent weeks as most market participants can satisfy buying interest from contractual volumes.
($1 = €0.72)
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