31 July 2012 16:24 [Source: ICIS news]
HOUSTON (ICIS)--US domestic prices for epoxy resins material ordered in August appear set for a rollover from July prices, sources said on Tuesday.
Buyers and producers said pressure from less-expensive imported material is the main factor keeping US prices steady.
“It looks like it will be a rollover at best, maybe a slight decrease for some,” a buyer said. “US producers are willing to be competitive.”
Sources said most domestic epoxy resins material ordered in August is priced in the mid-$1.40s/lb to low-$1.50s/lb.
A producer said domestic prices have to stay steady, with imported material increasingly available.
“It’s essentially going to be a rollover for domestics,” the producer said. “But we’re starting to see import prices move up, almost equal to domestics.”
Most market players said they see import material in the low-$1.40s/lb on a DEL bulk basis, but prices could move up.
The producer warned that if the August contract price for upstream chemical benzene surges, as some are expecting, US producers might seek a price increase.
“There’s a decent chance we’ll announce an increase to recoup some of those losses,” the producer said.
Major US epoxy resins producers include Dow Chemical, Huntsman and Momentive.
($1 = €0.82)
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