Feedstock, Olefins and Aromatics
Europe ABS February contract prices roll over
ICIS News : 22-Feb-13 23:59
LONDON (ICIS)--European acrylonitrile-butadiene-styrene (ABS) February contracts have settled at a rollover, buyers and sellers confirmed on Friday.
Compounding grade (natural) was assessed at €2,195-2,265/tonne ($2,888-2,980/tonne) FD (free delivered) NWE (northwest Europe), injection moulding (natural) at €2,285-2,370/tonne FD NWE and extrusion grade (natural) at €2,210-2,370/tonne FD NWE, according to ICIS.
Small reductions of €10/tonne were given to some buyers, but this was on a customer-specific basis, and was not seen as representative of the market as a whole.
Some producers wanted increases for February business, but these were not supported by other European suppliers.
In addition, the €40/tonne drop in the feedstock styrene February contract price made it difficult for producers to pass on increases.
Buyers wanted reductions based on raw material costs and - to some extent - lower than expected demand levels for February, and producers had to fight to keep prices from dropping in order to keep margins from being squeezed.
Lower prices from Asian ABS producers also added pressure to European suppliers to keep prices stable. Natural grade injection moulding material was said to be on offer for €1,750-1,850/tonne FD into Europe.
($1 = €0.76)
By Matt Tudball
+44 208 652 3214