Borealis, Owners and Joint Ventures
Europe melamine spot prices fall €20-30/tonne on poor demand
ICIS News : 20-Jun-13 18:06
LONDON (ICIS)--European melamine spot prices fell by €20-30/tonne ($27-40/tonne) since the beginning of June, a decline that a source attributed on Thursday to poor demand.
The spot range is at €1,220-1,280/tonne FD (free delivered) NWE (northwest Europe).
There is very little business taking place, with the majority of players covered by their contracted volumes.
“The spot market is absolutely dead,” a seller said. “Everybody is covered. People have low inventories. There is absolutely no impact from Borealis’ turnaround, and BASF is back [following production problems].”
It said there was no tightness at all in the market. “The buyer is gone, let's say. All signs are for relief.”
“I’m not buying anything on the spot market. I am fully covered,” a buyer said.
Melamine is combined with formaldehyde to produce melamine formaldehyde resin. End-products include countertops, dry-erase boards, fabrics, glues, housewares and flame retardants.
($1 = €0.75)
By Helena Strathearn
+44 208 652 3214