Europe ECH imports will continue to increase - sources

20 August 2013 17:10  [Source: ICIS news]

LONDON (ICIS)--European buyers will import more epichlorohydrin (ECH) from overseas if domestic prices continue to remain at the current levels in the long run, sources said on Tuesday.

"If I could, I would buy all I need from Asia, [where it is cheaper]," an ECH and epoxy resins buyer said.

The Europe August ECH contract settled at €1,710-1,720/tonne ($2,280-2,293/tonne) FD (free delivered) NWE (northwest Europe).

The only barrier to buying more ECH from abroad is that the terms of existing long-term contracts with European suppliers have to be adhered to, so there is a limit to how much buyers can import.

EU ECH imports from the rest of the world increased exponentially in June year on year, the latest data from European statistics agency Eurostat showed on 19 August.

Imports increased from 20 tonnes in June 2012 last year to 2,549 tonnes in the same month this year. Exports dropped by 23% during the same period. 

Imports rose because imported material is cheaper than European-origin ECH, and buyers have taken advantage of this. Exports dropped because ECH prices are lower overseas and EU sellers have cut output. There was therefore less ECH available for export.

EU ECH imports and exports (Eurostat, tonnes)

Month

Imports

Exports

June 2012

20

5,567

June 2013

2,549

4,300

Change year on year (%)

-

-23


Eurostat import/export data is subject to revision as more detailed information becomes available.

($1 = €0.75) 


By: Janos Gal
+44 208 652 3214



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly