17 January 2013 17:39 [Source: ICIS news]
HOUSTON (ICIS)--The contract prices of melamine for product delivered in the first quarter of 2013 have increased an average of 5% from the previous quarter, sources said on Thursday.
With negotiations between sellers and buyers for first-quarter melamine essentially complete, first-quarter US melamine prices have been assessed by ICIS pricing in a range of 103-116 cents/lb ($2,271-2,557/tonne, €1,703-1,918/tonne), an increase of 5 cents/lb from the previous quarter.
Tight supplies, greater demand and higher production costs are cited by both buyers and sellers as reasons for the increase.
Cornerstone Chemical this week is conducting a maintenance turnaround at its 70,000 tonne/year melamine plant near Donaldsonville, Louisiana. The plant is expected to be restarted by next week.
Melamine buyers said they anticipate higher usage rates in 2013 as economic recovery continues to move forward. A reviving home construction industry should provide momentum to the market, sources said.
($1 = €0.75)
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