12 March 2013 16:34 [Source: ICIS news]
LONDON (ICIS)--Delegates attending next week's Nuremberg Coatings Show and Congress will focus discussions on feedstock developments, imports and what direction the market is most likely to take in 2013, sources said on Tuesday.
Market participants gather every two years in Nuremberg to discuss what big issues the coatings and upstream markets are facing.
Asian imports and a free trade agreement between the EU and South Korea will likely be high on the agenda.
"A large number of Asian companies will be represented at the fair, most likely in an attempt to break into the European market," a European epoxy resins buyer said.
South Korea and the EU have signed a free trade agreement in mid-2011 which was after the last congress and this is now a great opportunity for South Korean producers to market their products, the buyer added.
As a result of the free trade agreement, South Korea does not have to pay a 6.5% import duty, giving it a big advantage over its competitors. The buyer expects that South Korean companies will now push to market their material at the exposition to gain market share.
At the same time, European epoxy resins players will most likely discuss with their suppliers how to proceed with April contract discussions, a source said.
European producers will push for increases and to make it clear the current climate is unsustainable and they need to improve their margins, a trader said.
The congress will last from 18-19 March while the show will be on from 19-21 March. The event attracted 25,000 visitors and 887 exhibitors in 2011.
Follow Janos Gal on Twitter @janosgalICIS
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