10 January 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European January epoxy resins contract prices rolled over from December, sources said on Tuesday. Buyers and traders said the benzene cost increase had little impact on contract pricing because most were settled before the Christmas holidays.
Liquid epoxy resins (LER) prices remained unchanged at €2,250-2,350/tonne ($2,885-2,994/tonne) FD (free delivered) NWE (northwest Europe) while solid epoxy resins (SER) prices are at €2,400-2,500/tonne FD NWE.
Even though the cost of feedstock benzene increased by €189-194/tonne in January, an epoxy resins price increase was not possible because the majority of epoxy resins contracts were agreed before the Christmas holidays.
"We would have increased January contract prices, but we could not because most of our contracts were already settled," a producer said.
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Buyers and traders said the benzene cost increase had little impact on contract pricing because most were settled before the Christmas holidays.
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