08 October 2012 16:10 [Source: ICIS news]
"October is probably the last month [this year] when demand is reasonably good, but demand in November and December will weaken as they are traditionally slow months," an ECH producer said on the sidelines of the European Petrochemical Association (EPCA) meeting in Budapest, Hungary.
August and September were described by producers as surprisingly good months for business, and October is holding up as well, but in November and December most market participants will begin to reduce inventories and sell surplus material to improve their balances. As a result, it is unlikely sales will increase and prices are most likely to stay unchanged or decline, said sources.
Buyers said that the market is oversupplied and demand is very poor from the epoxy resins market, which has been negatively affected by the macroeconomic downturn and falling sales to the automotive and construction industries.
In October, ECH rolled over at €1,640-1,665/tonne free delivered (FD) northwest Europe (NWE).
The annual EPCA meeting runs from 6-10 October.
Follow Janos Gal on Twitter @janosgalICIS
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections