01 April 2012 22:15 [Source: ICIS news]
SAN ANTIONIO, Texas (ICIS)--US demand for imported epoxy resins is expected to remain strong heading into the summer season, a trader said on Sunday on the sidelines of the International Petrochemical Conference (IPC).
The trader said its material ordered in April for May delivery is being done at $1.60/lb ($3,527/tonne, €2,646/tonne) DEL bulk (delivered in bulk).
Prices for material ordered in March and delivered in April were closer to $1.40/lb DEL bulk.
Several US buyers said they are seeking imported product because it is 5-10 cents/lb cheaper than domestic material and they hope to keep up a good buying position with importers and overseas producers.
The trader said that demand for epoxy resins in the summer should be strong, and that warmer weather in the spring will not detract from orders in July and August.
“People didn’t use as much as they needed to or wanted to last year,” the trader said. “So I expect they need more of it, which means we’ll keep seeing good demand into the summer.”
Some buyers have expressed concern that strong order levels in the paint and coatings market seen in March are being driven by warmer weather and not new demand.
This would lead to less business in the typically strong late summer because projects would be completed earlier in the year.
Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.
($1 = €0.75)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections