EU Q4 PBT prices roll over on steady demand

29 October 2013 18:18  [Source: ICIS news]

LONDON (ICIS)--European polybutylene terephthalate (PBT) Q4 contract prices have settled at a rollover from the third quarter as continued orders from the automotive market supported a balance between demand and supply, buyers and sellers said on Tuesday.

Q4 filled PBT contract prices settled at a pre-discounted level of €3.15-3.16/kg FD (free delivered) NWE (northwest Europe).

Demand for the fourth quarter is expected to be broadly steady compared with the third quarter, and changes in the price of feedstock butanediol (BDO) were expected to be relatively minimal.

Market participants in recent weeks said buying activity in the PBT market is aided by the German car industry, which continues to export cars to Asia, where rising affluence has boosted demand for automobiles.

Though most participants settled at rollovers, a few buyers got decreases of close to €0.05/kg, arguing they expected lower demand in the fourth quarter and that cheaper Asian PBT is available in the market.

($1 = €0.72)

By: Vladimir Guevarra
+44 208 652 3214

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