04 September 2012 20:52 [Source: ICIS news]
(recast with paragraph 14)
HOUSTON (ICIS)--US prices for epoxy resins ordered in September are expected to roll over from prices on material ordered in August, sources said on Tuesday.
US prices on domestic epoxy resins ordered in August were assessed by ICIS at $1.42-1.52/lb ($3,131-3,351/tonne, €2,473-2,467/tonne) DEL bulk (delivered in bulk), and prices for material ordered in September are expected to remain at that level.
“Everyone seems ok with where they are buying and selling material at,” a producer said. “Demand is still good across the board.”
Buyers attributed the rollover to the continued presence of less-expensive import material, mostly from ?xml:namespace>
“We got some sweet deals on material out of
Most buyers, however, argued that pricing between domestic and imported materials has almost reached parity and doesn’t appear to be moving in either direction.
Imported epoxy resins prices are assessed by ICIS at $1.38-1.45/lb
Prices in northeast
“There’s been no trouble getting Asian stuff in,” a buyer said. “If you want it, it’s there.”
Upstream, feedstock benzene prices have come off record contract highs, falling by 40 cents/gal in September, but this is expected to take a month or two to trickle down to the epoxy resins market.
“The pressure is off because benzene has started easing down,” a buyer said. “But we’re not looking at an imminent drop.”
The record-high feedstock costs put epoxy resins producers in a difficult position, as the less expensive Asian material took away sales and domestic demand in the
With the automotive and outdoors coatings seasons starting to wane, most sources don’t expect any improvement in demand, and some have already started to look at drawing down inventories.
US August sales of passenger cars and light trucks increased by 19.9% year on year, an industry publication said on Tuesday. Autodata reported that sales of passenger cars and light trucks in August totalled 1,285,202 units, up from 1,072,283 sold in the same month a year ago.
“I think you’ll see some inventory draw-downs coming soon, but then again, I don’t think anyone let their inventories get too high,” an epoxy resins buyer said.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections