Soda ash prices continued their march upwards as European-based market participants placed the price at a €10/tonne premium to levels seen in the last quarter.
The price increase follows from an increase in energy cost over the last two years. The rising price of coke and coal has affected profit margins in several companies in Europe and globally.
European soda ash prices (synthetic, dense & light, large contracts ex-works) increased to a range of €175-195/tonne, up from €165-185/tonne.
“In 2010 and 2011, we had to face a strong increase in energy costs - coal, coke mainly - and we lost a big portion of our contribution margin,” as source said, adding: “We absolutely need to recover now and the market...