Clear trend in prices despite inconsistent movement / Further decline expected in October

Producers did everything they could to carry the rollover through September. With numerous grades on the Western European market, they were unable to hold on to their position. Business activity on the market was very sluggish and, if at all, producers were only able to sell their material if they complied with converters regarding pricing. Overall demand was simply too weak. It is therefore no surprise that producers made further cutbacks in output or let plants operate at a low level. Imports added to the existing pressure. 

Some converters reported a small revival after the end of the holiday period and the restart of their operations. The market was, however, generally characterised by problems in the automotive industry, with the mood correspondingly pessimistic.

The start of the fourth quarter is likely to see significant price cuts across the board. The projected downtrend is based on both persistently weak demand and the EUR 119/t decline in the benzene reference for October. Converters with quarterly contracts will likely want to finally have a piece of the low-price pie. PA is also set to witness further price cuts in October, and producers are consequently expected to continue running their plants at reduced utilisation rates. For converters, there are no recognisable impulses for a recovery of demand.

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