07 August 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European epoxy resins contracts rolled over in August despite an increase in feedstock benzene, as August demand was expected to be weak as most derivative producers shut down for the holidays, sources said on Tuesday.
Liquid epoxy resin prices are €2,410-2,450/tonne ($2,975-3,025/tonne) FD (free delivered) NWE (northwest Europe) and solid epoxy resins contracts are at €2,420-2,500/tonne FD NWE.
Some contracts were finalised before the benzene settlement, and those consumers will see hikes transferred to September.
Buyers expect difficult discussions in September as they will try to resist any increases because demand is weak and supply is plentiful. However, producers said that they will raise prices regardless of what buyers want because margins have become unsustainable.
($1 = €0.81)
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