SINGAPORE (ICIS)--Asia’s ethylene propylene diene monomer (EPDM) prices fell by $50/tonne in the week ended 23 November amid the year-end destocking activities, market sources said on Thursday.
Some regional producers cut the prices to promote sales amid the year-end seasonal lull, while others were reluctant to reduce prices amid squeezed margins.
Buying interest from Asian downstream users remained slow as they were not keen to build high inventory at the year-end period, hence, they only purchase small quantities if necessary, given ample supply availability.
“Buyers are not keen to make procurement amid the slowing downstream sales,” a regional trader said.
Import prices to China fell by $50/tonne from last week to $1,750-1,850/tonne CIF (cost, insurance & freight) China, according to ICIS.
And prices to southeast Asia and India also dropped by $50/tonne to $1,700-1,800/tonne CFR SE Asia and $1,650-1,750/tonne CFR India, ICIS data showed.