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In Asia liquid epoxy resins prices to decline further in July

June 29/2011

(ICIS) -- Asias liquid epoxy resin (LER) prices are expected to continue falling in line with the regions weak downstream demand and declining feedstock epichlorohydrin (ECH) and bisphenol A (BPA) prices, industry sources said on Wednesday.


LER prices fell by USD 200/tonne (EUR 140/tonne) over the last four weeks to settle at USD 3.250-3.550/tonne FOB (free on board) northeast (NE) Asia (iso-tank) on 28 June, according to ICIS.


The Chinese government has imposed two interest rate hikes and raised the reserve requirement ratio six times this year, causing the poor performance in the countrys downstream markets, several Chinese producers said.   


The weak downstream demand in China is causing regional LER prices to decline, as end-users are finding difficulty in raising capital for their purchases, Chinese producers said. LER prices are likely to soften further if downstream demand in China continues to weaken.


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