09 May 2013 12:34 [Source: ICIS news]
SINGAPORE (ICIS)--Import discussions on May-loading ethanolamines cargoes, subjected to 6.5% import duties, were subdued in the Chinese market because of a wide buy-sell gap, market sources said on Thursday.
China-based importers' buy ideas for monoethanolamine are around $1,350-1,390/tonne CIF (cost, insurance and freight) China against offers from northeast Asian suppliers at $1,500/tonne (€1,140/tonne) CIF China.
In the diethanolamine market, buying ideas of importers were capped at $1,400/tonne CIF China against offers from northeast Asia, north America and Europe at $1,500-1,550/tonne CIF China.
Only glyphosate makers, exempted from import duty payments, are willing to purchase cargoes up to $1,500/tonne CIF China, sources said. However, most of these buyers are targeting prices at around $1,400-1,450/tonne CIF China.
Offers of May loading triethanolamine from northeast Asia at $1,600-1,700/tonne CIF China was not accepted by the buyers. Notional buy ideas were capped at $1,540/tonne CIF China.
Industry players expect price negotiations to be prolonged because of the wide buy-sell gap during the week.
The only deals concluded for May loading cargoes were of non-dutiable southeast Asian origin, which can only be booked by a few importers because of exclusive distribution agreements, sources said.
($1 = €0.76)
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