04 December 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--European December liquid and solid epoxy resins (LER and SER) contract prices have rolled over on lacklustre demand and because producers did not want to reduce prices when trading is slow and most downstream players shut down for maintenance, sources said on Tuesday.
December SER contract prices are at €2,490-2,520/tonne ($3,233-3,272/tonne) free delivered (FD) northwest Europe (NWE), while LER contracts are at €2,590-2,650/tonne FD NWE.
Major producers said a price drop would not have stimulated demand, so they decided in the majority of cases against giving any discounts in December.
The epoxy resins market continues to be oversupplied because of lacklustre demand from end-user markets, such as the electronics, construction, coatings and automotive sectors - major end users of epoxy resins. Because output in these sectors has dropped, demand for epoxy resins has also declined.
As long as macroeconomic output do not improve, epoxy resins demand will remain poor, sources said.
($1 = €0.77)
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