14 August 2012 16:56 [Source: ICIS news]
HOUSTON (ICIS)--US domestic prices for epoxy resins ordered in August were assessed an average of 2.6% lower on Tuesday as US producers sought to match import prices .
Buyers and producers said that US epoxy resin material was mostly being done in a range of $1.42-1.52/lb ($3,131-3,351/tonne, €2,536-2,714/tonne) DEL bulk (delivered in bulk).
Several buyers reported a slight fall in August contracts while others reported a rollover.
Most sources said the biggest reason for prices moving lower was an effort on the part of US producers to match import pricing.
“That’s definitely been the trend over the past couple of months,” a producer said. “However, we’re starting to see import pricing moving up.”
Several buyers confirmed this, saying that they are seeing import bid/offer levels flat with what domestic producers are doing business at.
“We’re starting to see our domestic and import offers flat to each other,” a buyer said. “They’re starting to come together.”
Buyers said that import offers have moved up to the mid-$1.40s/lb in most cases.
Additionally, demand among US buyers for imported material remains strong, sources said.
Major US epoxy resins producers include Dow Chemical, Huntsman and Momentive.
($1 = €0.81)
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