27 September 2002 09:44 [Source: ICIS news]
LONDON (CNI)--German chemicals group BASF said Friday it is increasing global acrylic acid and acrylic ester prices by at least Euro120 per tonne with effect from 1 October.
BASF said it is raising the price in response to the continuing unsatisfactory profit situation. It declined to disclose current price levels.
CNI's sister publication European Chemical News (ECN) reported last week that third quarter contract prices for acrylic acid rose to around Euro1075-1155 per tonne, with September spot business reportedly selling at around Euro20-30 per tonne higher. Producers are expected to seek further price increases in the fourth quarter.
Acrylic acid is used in the production of superabsorbants, the active ingredient in nappies and other hygienic products.
Acrylic esters are used to produce architectural coatings, adhesive raw materials and construction chemicals.
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