19 June 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European epoxy resins June contract prices decreased by €50-100/tonne ($63-126/tonne) depending on grade and region of Europe.
Liquid epoxy resins June contracts settled at €2,500-2,550/tonne free delivered (FD) northwest Europe (NWE), down by €50-70/tonne, while solid epoxy resins contracts settled at €2,520-2,600/tonne, down by €80-100/tonne.
Producers were targeting rollovers, but in the end had to give reductions to maintain sales volumes and to keep Asian competitors out of Europe.
Southern European demand is considerably weaker than in northern and western Europe because of slowing economic output and falling sales to the construction and automotive industries.
According to a number of sources, European demand has fallen by about 20-30% compared with last year.
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