Europe adipic acid Dec contracts increase €40/tonne on feedstock cost

09 January 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--European Adipic acid (ADA) December contract prices rose by €40/tonne ($53/tonne) from November because of rising upstream benzene costs, buyers and sellers said on Wednesday.

ADA price rises were limited by weak demand caused by year-end destocking and weak macroeconomic conditions.

The feedstock benzene December contract price increased by €52/tonne from November, meaning that downstream ADA margins – which were already weak prior to December – have been further squeezed.

The actual size of ADA contract price increases varied depending on starting point, but an increase of €40/tonne was seen as representative by the majority.

($1 = €0.76)

By: Mark Victory
+44 208 652 3214

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