05 February 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European liquid epoxy resins (LER) contract price for February has increased by €20-40/tonne ($27-54/tonne), while solid epoxy resins (SER) prices rolled over, sources said on Tuesday.
Demand is poor, imports are cheap and feedstock benzene costs dropped this month, which were major factors during negotiations.
The February LER contract price is at €2,630-2,670/tonne free delivered (FD) northwest Europe (NWE), while the SER contract is at €2,490-2,520/tonne FD NWE.
Producers were targeting increases of €80-150/tonne for February because they wanted to recoup feedstock benzene increases over the past two months. One producer said it managed to increase most of its freely negotiated contracts by €40-70/tonne.
This was confirmed by one buyer, while the majority of other buyers said they have settled at a rollover or at €20-40/tonne increases for February.
An eastern and southern European producer said they targeted increases for February, but then had to roll prices over because demand was poor in those regions.
Another two western European producers said they managed to increase prices by €85-100/tonne, but these were not deemed representative of the market.
($1 = €0.74)
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