2EH prices assessed firmer in Asia - Dec 18th, 2010 [09:00]
Mixed reports were heard this week in Asia’s 2EH markets. While one faction of market participants polled claimed that prices were stable in the region with year end demand soft, a second faction reported an unexpected rise in buying interest on account of strong demand in teh downstream acrylate markets.
Prices of 2EH were assessed up at the USD 1800/mt CFR China levels while in South East Asia, prices were assessed at the USD 1805/mt levels.
A trader a polymerupdate team member spoke with said, “ there is some confusion regarding the pricing pulse of 2EH this week. We however are not bullish in our reading of the markets and have countered higher seller offers with arguments of a decline in downstream DOP prices to warrant lower 2EH rates. Sellers are unwilling to accept lower rates, however we are confident that before the year end, prices will down adjust from current levels. Our bids at the current time are at the USD 1760/mt CFR China levels.”
He added, “ sellers have rubbished our bids, but we are highlighting current domestic price quotes at the Yuan 14300/mt mark, down Yuan 200/mt from last week. This price also translated to around USD 1730/mt on an import parity basis.”
Intermediate prices - Mar 1st, 2011
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