05 December 2003 11:13 [Source: ICIS news]
LONDON (CNI)--Resolution Performance Products announced on Friday plans to seek two successive increases in the Asia-Pacific prices of its liquid epoxy resins and solutions/solids and warned that it would no longer commit to pricing for periods longer than 90 days.
For all products despatched from 1 January, Resolution is seeking a $30/tonne rise for liquid epoxy resins and $20/tonne for solutions/solids. From 15 February, it plans to seek an additional rise of $30/tonne and $20/tonne respectively.
Resolution said the increases were necessary because of "the unprecedented volatility in raw material costs" experienced this year. The main raw materials for epoxy resins are bisphenol A (BPA) and epichlorohydrin (ECH).
The combined January/February rise of $60 for liquid epoxy resins and $40 for solutions/solids is understood by market observers to represent an increase of some 3-5%.
Last week, US-headquartered Resolution announced Monday it would seek increases to off-list prices of ECH and BPA in Europe, Middle East and Africa from 1 January.
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