03 October 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--Fourth-quarter polycarbonate (PC) prices have rolled over because of poor demand and strong resistance from buyers, several market sources said on Wednesday.
Fourth-quarter moulding grade PC prices stood at €2.25-2.45/kg ($2.92-3.18/kg) free delivered (FD) northwest Europe (NWE). Extrusion grade PC is at €2.15-2.25/kg FD NWE.
At the beginning of September, PC producers had announced increases of €0.20-0.25/kg for both grades but were met with strong resistance from buyers.
During the third/fourth week of September, one major EU producer announced it would roll prices over. This was then followed by another large PC producer.
A third producer said that after the two largest PC producers rolled prices over, it had no choice but to follow suit, even though it was a tough choice with most producers being in a difficult situation. The third producer added that if it had gone with its original intention to increase prices, it would have lost the majority of its customers to the competition.
($1 = €0.77)
Follow Janos Gal on Twitter
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections