24 August 2012 23:59 [Source: ICIS news]
To reflect this change, compounding grade (natural) was assessed at €2,135-2,145/tonne FD (free delivered) NWE (northwest Europe), injection moulding (natural) at €2,225-2,250/tonne FD NWE and extrusion grade (natural) at €2,150-2,250/tonne FD NWE according to ICIS.
August contract feedstock butadiene prices rose €75/tonne to €1,575/tonne and August contract styrene settled at €1,367/tonne, an increase of €135/tonne.
Initial August European acrylonitrile (ACN) contracts have been settled at an increase of €155-160/tonne, several buyers and a producer confirmed.
Negotiations have been delayed by summer holiday absences and are, in some cases, ongoing.
August’s ABS price rise represents approximately a 5% increase from last month across the five ABS grades.
Producers said that demand for the second half of August was better than expected as players returning from summer holidays replenished depleted inventories.
However, some distributors said that some end users were still sitting on the sidelines and waiting to see what feedstock prices do in September.
Players are optimistic that demand will continue to improve next week when the holiday season comes to an end in most of Europe.
Players said that supply is good with product readily available.
($1 = €0.80)
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