06 July 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European bisphenol A (BPA) July freely negotiated contract prices have fallen by €30-50/tonne ($37-62/tonne) because of weak demand and lower feedstock costs, sources said on Friday.
The price of freely negotiated BPA is at €1,520-1,570/tonne free delivered (FD) northwest Europe (NWE).
Spot prices are at €1,450-1,480/tonne FD NWE, a drop of €40/tonne at the top end of the range.
Formula contracts are at €1,500-1,700/tonne FD NWE, depending on source, formula used and starting point. One buyer said it settled at €1,620/tonne FD NWE, while another said it settled at €1,500-1,520/tonne FD NWE.
Supply is balanced-to-long and there are no production problems. Demand is low and it is expected to weaken further in July and August as many derivative producers will shut for summer maintenances.
($1 = €0.81)
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