25 April 2012 20:45 [Source: ICIS news]
HOUSTON (ICIS)--Second-quarter US contract prices for melamine were assessed 2% lower from the first quarter on Wednesday by ICIS pricing.
Settled contracts for second-quarter melamine were represented by a scattering of rollovers and adjustments to contracts late in the first quarter, sources said.
As a result, ICIS assessed second quarter bulk melamine contract prices down 1.5 cents/lb to a range of 84.50-97.50 cents/lb ($1,863-2,149/tonne, €1,416-1,633/tonne) delivered, down from 86-99 cents/lb in the first quarter.
"Demand is not seen improving enough at this point, however, to move the price up in the third quarter, although we have likely hit the price bottom for now," a buyer said.
($1 = €0.76)
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