20 September 2013 15:31 [Source: ICIS news]
LONDON (ICIS)--European and Turkish soda ash consumers have been aiming to settle their 2014 annual contracts earlier than usual this year because they are concerned that prices will increase next year, and they are keen to secure a better deal by settling early, one producer said on Friday.
Buyers are targeting to settle at rollovers or minus $4-7/tonne (€3-5/tonne), a Turkish producer said. It added that prices are more than likely to go up because demand is expected to strengthen in 2014, and production costs are expected to be higher too.
A northern European buyer described the market as stable and uneventful. It is looking for a reduction of $7/tonne, but will probably accept a rollover if it comes to that, although not an increase.
The buyer has bought slightly more soda ash in 2013 than last year.
($1 = €0.74)
Follow Janos Gal on Twitter @janosgalICIS
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