Europe February epoxy resins contracts rise by €90-130/tonne

07 February 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--European February epoxy resins contract prices have increased by €90-130/tonne ($118-171/tonne) because of higher feedstock costs, market sources said on Tuesday.

Liquid epoxy resin (LER) February contract prices settled at €2,380-2,450/tonne FD (Free Delivered) NWE (northwest Europe), an increase of €100-130/tonne. Solid epoxy resins February prices are at €2,490-2,600/tonne FD NWE, an increase of €90-130/tonne.

Producers were pushing to raise prices even further, in line with rising feedstock costs, but buyers said the targeted €175-200/tonne increases were too high.

"I did not accept the proposed €2,500/tonne [FD NWE] price level because it was far too high. In the end, my supplier came back with a lower offer," said a buyer.

Manufacturers said that demand has increased and sales volumes looked promising for February and March, although it was not clear why. Some thought it was purely because of restocking and pre-buying, while others said buyers were becoming more optimistic.

"If downstream markets performed poorly and consumers were really struggling, they would not be purchasing extra material which they are in fact doing," said one producer.

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($1 = €0.76)

 

 


By: Janos Gal
+44 208 652 3214



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