21 February 2014 23:59 [Source: ICIS news]LONDON (ICIS)--European acrylonitrile-butadiene-styrene (ABS) prices have increased by €20-25/tonne for February freely negotiated business on the back of of a rise in raw material costs, buyers and sellers confirmed on Friday.
“ABS prices are up +€20-30 for us, an average of +€25,” a producer said.
A second producer had said its initial €40/tonne target had to be revised down, as“the limiting factor is Asian prices, [which are] causing a bit of a headache. So because of that we [are] go[ing] for [a] €20 increase," it said.
A third producer said it had achieved increases of €30/tonne up from January, but this was not seen as representative of the overall market.
On the buy side, the average increase was €20-25/tonne, though a lower increase of €15/tonne was heard from a distributor, but was not felt to represent the wider market movement.
“We have confirmed discussions at €15-20/tonne up, [we were] lucky to finish like that. Producers tried really hard to get higher prices,” a buyer said.Demand was stable, but producers were overall positive about their outlook.
Distributors and compounders generally agreed that demand was acceptable for February, and that market sentiment was feeling more positive overall.
Prices for compounding grade were assessed at €2,185-2,195/tonne free delivered (FD) northwest Europe (NWE), injection moulding natural grade at €2,285-2,290/tonne FD NWE, and extrusion grade at €2,210-2,290/tonne FD NWE according to ICIS.
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