SE Asia LAB import prices on downtrend amid weak market sentiment

12 March 2014 12:16 Source:ICIS News

SINGAPORE (ICIS)--Prices of linear alkyl benzene (LAB) in southeast Asia have been on a downtrend because of ample supply and recent decreases in raw material costs, market players said on Wednesday.

Market sentiment has been described as weak and consequently sellers were said to have lowered their offers to the region.

Market players said political uncertainty in Thailand or elections in Indonesia in April, also hindered an increase in LAB consumption. According to news reports, billions of US dollars of planned foreign and domestic investment in Thailand is on hold because of the political turmoil.

A seller was negotiating Middle East-origin cargoes at $1,830/tonne CFR (cost and freight) SE Asia but faced buying ideas at below $1,770/tonne CFR SE Asia.

Other buyers were said to bid material below $1,800/tonne CFR SE Asia.

A producer was said to have sold cargoes at $1,810-1,820/tonne CFR SE Asia for March loading. However the information was not confirmed by the producer.

Offers for northeast Asian origin material were indicated at $1,830/tonne CFR SE Asia in flexi tanks.

By Fahima Khail