12 February 2013 21:14 [Source: ICIS news]
HOUSTON (ICIS)--US prices for domestic epoxy resins increased for material shipped in February, sources said on Tuesday.
Buyers and producers said much of the market accepted price-increase nominations of 6 cents/lb ($132/tonne, €99/tonne) on supply concerns and slightly improving demand.
“Smaller buyers are being forced to buy domestic to ensure supply security,” a buyer said. “So prices go up.”
Several larger buyers said they were able to push back on February price-increase nominations, as they are still using less expensive imports as a key source of material.
“We didn’t take anything in February,” another buyer said. “Supply has been good; there’s no issue getting material.”
However, several larger buyers reported prices for February in the low-$1.40s/lb on a DEL bulk (delivered in bulk) basis.
This would be an increase from prices for January material, which were assessed by ICIS at $1.38-1.45/lb.
With the February increases taking effect, ICIS-assessed prices for US domestic epoxy resins moved to $1.44-1.51/lb DEL bulk, consistent with reports from most buyers.
Major US producers of epoxy resins include Dow Chemical, Huntsman and Momentive.
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