LONDON (ICIS)--European adipic acid (?xml:namespace>
Some buyers in recent weeks have said that the market is oversupplied, allowing them to achieve price decreases of up to €100/tonne.
Some producers said they managed to limit decreases to €30/tonne to protect their margins. Prices at either extreme were not widely confirmed.
Prices settled at a range of €1,695-1,750/tonne on a FD (free delivered) NWE (northwest
Meanwhile, market participants offered different views on how a €109/tonne increase in December benzene price would affect December ADA prices.
Buyers downplayed the latest increase in the price of benzene, saying that
A producer, however, said it will push for a 50-50 sharing of the cost pass through from the increase in the cost of benzene, saying that would be a “fair compromise” between buyers and sellers.
The producer estimates the passthrough to cost €81.75/tonne, which means that half, or €40.88/tonne, would be its target price increase for December. The producer said it will not accept a decrease in prices because it needs to protect its margins.
($1 = €0.74)