21 November 2012 23:17 [Source: ICIS news]
HOUSTON (ICIS)--US caustic soda export prices are assessed higher for the week as foreign demand rises, even as supply remains snug, market sources said on Wednesday.
Export prices are assessed by ICIS at $425-435/dmt (dry metric tonne) (€332-339/dmt).
Two producers said availability of material has tightened on the US east coast after Hurricane Sandy struck on 29 October.
That tightness has increased orders for material to the northeast from the US Gulf, as there is little material available from Europe.
One producer said prices for material out of Asia are starting to rise, decreasing demand from that region.
Some buyers, however, have countered that the snugness in supply is not evident.
Market participants continue to negotiate over the implementation of a set of price initiatives of $35/dry short ton (dst), ($32/dry metric tonne, €25/dmt).
According to market sources, the increases have been partially implemented, but they have been met with resistance from buyers.
Major US producers of caustic soda include Dow, Formosa, Occidental Chemical, Olin and Shintech.
($1 = €0.78)
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