09 April 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European April epichlorohydrin (ECH) contract prices have risen by €75/tonne ($97/tonne) because of tight supply, sources said on Tuesday.
The April contract price is at €1,820-1,825/tonne free delivered (FD) northwest Europe (NWE).
Producers were initially targeting €100/tonne hikes, but because of lower feedstock propylene values in April, they had to reduce those targets to €75/tonne.
Current tightness stems from a plant closure in eastern Europe and from a maintenance shutdown in western Europe.
Momentive's ECH plant in Pernis, the Netherlands, shut down for maintenance from 15 March to 15 April. During this period the company had to buy ECH from other sources which made the market tight.
($1 = €0.77)
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