Market and product
European hexane prices to stabilize in January
"Demand will return in the January month when people restock their inventories after the holiday season," a European distributor source said.
The source said there were minimal offtakes in the distribution market currently during the annual destocking season during December.
The hexane market has been under pressure from falls over the past few months in the naphtha market, which was assessed at $511.25/mt CIF NWE Monday.
At the beginning of the month the spot price was $584.50/mt.
"I cannot see how much further the hexane price can decrease, the upstream prices are putting a lot of pressure on hexane prices" another distributor source said.
The Northwest European free-delivered hexane price was assessed at Eur790/mt last Tuesday, the lowest level since March 23, 2010 when it was Eur775/mt, according to Platts data.
A traded range was reported at Eur740-755/mt FD NWE Tuesday morning.
