Plentiful supply of epoxy resins, weakening demand lead to rollover in US contract prices determined March 25; domestic delivered in bulk contracts in US at US$1.35-US$1.41/lb., with contract prices lower by US$0.03/lb. compared to February
LONDON , April 18, 2014 (ICIS Chemical Business (CBNB Abstracts)) – A rollover in US contract prices for epoxy resins was determined on 25 Mar 2014, attributed to plentiful supply and weakening demand. As a result, domestic delivered in bulk (DEL bulk) contracts in the US were $1.35-1.41/lb ($2976-3108/tonne). This is in contrast to contracts made in Feb 2014, which were greater by 3 cents/lb. Manufacturers tried pursuing a 5 cent/lb hike in Feb 2014 and Mar 2014. Those who succeeded were frequently at the bottom end of the estimated range, according to producers. Majority of the epoxy resin market players approved of the mid-$1.30s/lb for domestic loads. Several contracts remained in the low-$1.30s/lb. Robust inventories and intense import competition will contribute to the long market for epoxy resin in the US. However, market sources reported stagnant demand.