14 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European bisphenol A (BPA) June contract prices have declined by €20/tonne ($27/tonne) because demand is weak and the market is well supplied by imports from Asia, sources said on Friday.
European-origin BPA is offered at €1,560-1,580/tonne free delivered (FD) northwest Europe (NWE).
The market is described as balanced and there are no supply problems, while demand is subdued and is below seasonally expected levels.
As a result of the ongoing macroeconomic slowdown, colder-than-seasonal weather and floods across Europe, construction output has dropped. Car sales have also declined for several months, and this has resulted in weaker demand for BPA, PC and epoxy resins.
($1 = €0.75)
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