HOUSTON (ICIS)--US liquid caustic soda spot export prices were assessed at a further decline on Friday as the US markets enters a year-end phase of inventory control and destocking activity.
Spot export prices were assessed at an average decline of $30/dmt (dry metric tonne) FOB (free on board) US Gulf. The decline brings the ICIS assessed range to $355-420/dmt FOB US Gulf.
The decrease is the result of business done in the previous week from one producer to one buyer in two parcels, one of which went to South America and the other to Europe.
Discussions for spot export and spot barge business have increased in recent weeks with higher availability of material.
The declines come amid broad declines for many chemicals on declining oil prices and year-end inventory control efforts.
Major US producers of caustic soda include Olin, Occidental Chemical, Westlake Chemical, Shintech and Formosa Plastics.