BASF to raise glyoxal prices by 10% from 1 April

28 March 2001 16:37  [Source: ICIS news]

LONDON (CNI)--BASF is to increase its glyoxal prices in Europe by 10%, the German chemicals group announced on Wednesday.

It said the rise, effective from 1 April, was being introduced to restore margins eroded by significantly higher costs of ethylene feedstock.

A spokesman for BASF said the glyoxal price rise would apply to non-contractual business. He explained that the price rise would apply to contract customers as and when their contracts allowed.

BASF's glyoxal prices have been largely unchanged for about two years, said the spokesman, and have failed to keep pace with rising raw materials costs.

He said BASF hoped to obtain improved economies of scale from glyoxal production when the company's new 60 000 tonne/year, worldscale plant at Ludwigshafen, Germany comes onstream in mid 2002. The plant will replace BASF's existing Ludwigshafen facility, which has a capacity of 25 000 tonne/year.

By: Neil Sinclair
+44 20 8652 3214

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