16 April 2013 17:33 [Source: ICIS news]
LONDON (ICIS)--Some European polyacetal (POM) buyers are delaying second-quarter contract price negotiations because of lower-priced imports arriving from Asia, they said on Tuesday.
One buyer said that it had been offered spot POM from Asia for as low as €1.40/kg ($1.81/kg) FD Europe.
“[Second quarter contracts are] not finalised yet, lots of cheaper materials [from Asia] means we're holding off,” a buyers said
Although spot material from Asia does not traditionally arrive in sufficient quantities to influence contract discussions, some European buyers said that they are delaying second-quarter negotiations because of low-priced imports.
Demand is stable compared with March, and broadly in line with April 2012 volumes, but remains at a low level becuase of poor macroeconomic conditions reducing consumer purchasing power.
Nevertheless, some buyers said that material arriving from overseas has coupled with the weak demand to create a long market.
($1 = 0.77)
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