03 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Some small levels of third-quarter business were heard reaching a conclusion in Europe this week; however, for the most part, wide pricing ideas from both suppliers and buyers continue to stall negotiations, sources said on Wednesday.
One producer said it had concluded some small volumes of mid-cut fatty alcohols for the third quarter at around €1,400/tonne FD (free delivered) NWE (northwest Europe).
“Many buyers are still holding back from negotiations in the hope prices will decline during the coming months,” it added.
Although extra capacity is anticipated to come back onstream, the producer remains doubtful that the buyers’ hopes will be realised.
With demand from China remaining strong, the producer believes more fatty alcohols will be consumed in Asia, and will therefore not help to ease the supply situation in Europe.
Some buyers now state they have purchased mid-cut fatty alcohols for the third quarter, at prices ranging from €1,200-1,300/tonne FD NWE.
The majority of other consumers in Europe said they remain content to hold back from the market for now.
($1 = €0.77)
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