15 June 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European bisphenol A (BPA) June freely negotiated contract prices have declined by €50-60/tonne ($63-76/tonne) because of weaker demand and competitive offers from Asia, sources said on Friday.
June contracts settled at €1,550-1,620/tonne free delivered (FD) northwest Europe (NWE).
Although feedstock costs largely increased, most European producers were forced to give discounts to maintain sales volumes and because demand is weak.
European BPA plant utilisation rates are at 70% on average and some sources expect these may be further cut if demand does not improve.
($1 = €0.79)
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