19 February 2013 17:20 [Source: ICIS news]
LONDON (ICIS)--European polybutylene terephthalate (PBT) distributors are offering spot material as low as €1.70/kg ($2.27/kg) FD (free delivered) Europe for unfilled PBT, several sources said on Tuesday. The material is believed to have originated in Asia.
Natural grade PBT spot prices in Asia are at a euro equivalent of €1.54-1.61/kg CIF (cost, insurance & freight) NE (northeast) Asia.
“Lower priced PBT [is being] offered by German distributors at €1700/tonne, originating from Asia, but they won't say the manufacturer. We're waiting for the majors to respond. Hope that will push prices down,” a PBT buyer said.
Some sources said that they were hopeful this would cause a fall in European PBT prices, as Asian material is trading well below the Q1 European unfilled gross contract price of €3.15-3.16/kg.
Nevertheless, the majority of sources said that the volumes arriving from overseas were not significant enough to influence contract pricing, which dominates the European PBT market.
($1 = €0.75)
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