07 September 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European bisphenol A (BPA) September contracts settled up by €20-30/tonne ($25-38/tonne) from the previous month because of higher feedstock costs, sources said on Friday.
September freely negotiated contracts settled at €1,550-1,590/tonne free delivered (FD) northwest Europe (NWE).
Most producers and traders said the increases were necessary to recover the feedstock benzene increase in August. Although the price of benzene decreased by €35/tonne in September, its price went up by €108/tonne in August and producers were keen to claw some of this back.
Spot prices have increased by €20/tonne on the high end of the range to €1,480-1,550/tonne FD NWE. Formula prices are at €1,650-1,700/tonne FD NWE, depending on source and formula used.
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