02 April 2013 17:33 [Source: ICIS news]
LONDON (ICIS)--European polyacetal (POM) buyers said on Tuesday that they are targeting price reductions of up to €0.10/kg ($0.13/kg) for the second quarter of 2013 on the back of weak demand.
Negotiations are yet to begin in earnest, and producers have not yet set second-quarter price targets.
Demand is weak because of poor macroeconomic conditions, which has limited demand from the downstream automotive sector.
New registrations for commercial vehicles in the EU continued to decline in February, according to data from the European Automobile Manufacturers’ Association (ACEA) released on 27 March.
In February, demand for new commercial vehicle registrations was down for the 14th consecutive month in the EU, dropping to 109,331 units, a fall of 13.3% compared with the same month the year before.
New passenger car registrations in the EU fell by 10.5% year-on-year in February 2013, according to ACEA statistics.
($1 = €0.78)
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