02 December 2011 23:59 [Source: ICIS news]
LONDON (ICIS)--European spot prices for glycol ethers and propylene glycol ethers were assessed down by €10-20/tonne ($14-28/tonne) by ICIS on Friday amid slow demand, seasonal destocking and lower ethylene and propylene prices.
Market participants said that prices for butyl glycol (BGE) had fallen by €20/tonne to a range of €1,200-1,240/tonne FD (free delivered) NWE (northwest Europe).
Butyl di-glycol (BdG) was described as having a €30-50/tonne premium over BGE, and prices were assessed down €10/tonne in the range of €1,230-1,270/tonne FD NWE.
Sources said they could not be sure as to whether the current slackening in demand is purely the result of seasonal destocking, or whether it is indicative of a broader trend.
In the propylene glycol ether market, methoxy propanol acetate (PMA) prices registered a modest decrease, while methoxy propanol (PM) prices were largely stable.
PM prices for December were consistently heard above €1,220/tonne FD NWE, although the high end of the assessed range was no longer deemed representative, and was therefore lowered by €20/tonne to €1,270/tonne FD NWE.
PMA prices were heard in a wide range this week, in the case of one buyer as low as €1,390/tonne FD NWE.
However, this did not appear to be typical of the market overall, and prices were assessed lower by €20/tonne at the low end, bringing the range down to €1,410-1,460/tonne FD NWE.
($1 = €0.74)
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