11 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European bisphenol A (BPA) October freely negotiated contract prices have rolled over because the market is balanced and domestic suppliers were unwilling to lower prices as margins are already unsustainably thin, sources said on Friday.
The freely negotiated contract price for October is at €1,400-1,500/tonne ($1,892-2,027/tonne) FD (free delivered) NWE (northwest Europe).
Some buyers said that they managed to get a reduction, but those were mostly for imported material and not from western European producers, which are out of the spot or freely negotiated markets as a result of extremely low prices.
According to one major producer, selling to buyers at the price they are asking for would be a suicide as consumers tend to bid for €1,350/tonne FD NWE or even lower, which would not even cover production costs.
($1 = €0.74)
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