05 July 2013 16:49 [Source: ICIS news]
LONDON (ICIS)--Compressed margins stemming from high feedstock costs and the prices buyers are willing to pay are deterring some participants from doing business in the European butyl acetate [butac] market, they said this week.
“We’re off the European market,” a Russian producer said. “What I see from the EU, consumers want unreasonably low prices, we cannot supply in this situation.”
A distributor based in Germany said: “We’re not involved in [the] butac [market]. It was one of our big products. Demand is declining. We can't get businesss together. Buyers want prices that are too low.”
The producer said it may consider re-entering the European market in the future, but not until after the summer holiday season at the earliest.
In the meantime, it sells to India the Middle East and the US.
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