02 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European nylon 6,6 virgin polymer contract prices for June have rolled over from May, sources confirmed on Tuesday.
Nylon 6,6 June virgin polymer contract prices finalised at €2.75-2.78/kg FD (free delivered) NWE (northwest Europe).
Demand was considered too weak to boost prices.
Sellers meanwhile did not want to let prices slip as this would mean the further deterioration of already thin margins. Upstream, the benzene contract for June fell by €11/tonne and did not have a great influence on discussions.
July pricing is now being focused on. Producers are hoping to roll over prices. “Prices fell a lot before,” one seller said. “This is an opportunity to hold onto some margin”.
But buyers are looking for decreases of between €0.01-0.05/kg on the back of the €67/tonne fall in the July benzene contract and an expected quieter market due to upcoming holidays.
“Prices are already under pressure,” one buyer said. “Demand is very flat, some regions are already on holiday and you can see the effect of that.”
($1 = €0.77)
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