Negotiations on September epoxy resin contract prices in Europe are likely to be exceptionally difficult

Asian liquid epoxy resin (LER) prices stand at USD 2,570–2,630 per ton FOB Northeast Asia bulk terminal, with freight costs of approximately EUR 250–300 per ton and a maximum delivery lead time of up to eight weeks.

Latest data from Eurostat shows that the EU imported 12,989 tons of epoxy resin from the rest of the world in May, compared with 9,516 tons in April. EU exports also rose over the same period, climbing from 12,552 tons in April to 15,311 tons in May.

Driven by rising raw material costs, most European epoxy resin producers are targeting price increases for September. The August contract price of pure benzene in Europe reached EUR 1,061 per ton, up EUR 108 per ton month-on-month. Meanwhile, the August contract settlement price of propylene raw material was EUR 1,055 per ton, a month-on-month rise of EUR 120 per ton.

Similarly, Czech manufacturer Spolchemie and two other producers have also announced an epoxy resin price increase of EUR 50–100 per ton effective August 1, subject to contractual terms.