18 December 2013 12:31 [Source: ICIS news]
LONDON (ICIS)--European melamine spot prices have dropped by €10-20/tonne ($14-27/tonne), because of poor demand and subdued activity ahead of the holiday period, sources said on Wednesday.
The spot range is at €1,180-1,200/tonne FD (free delivered) NWE (northwest Europe).
December demand for melamine is typically slow as players are largely focussed on reducing inventories to lower working capital.
Melamine is combined with formaldehyde to produce melamine formaldehyde resin. End-products include countertops, dry-erase boards, fabrics, glues, housewares and flame retardants.
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($1 = €0.73)
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