22 March 2004 17:41 [Source: ICIS news]
LONDON (CNI)--BASF announced on Monday plans to raise monoethanolamine prices in Europe by Euro 50 a tonne.
The German chemicals group said the rise would be implemented with immediate effect or as contracts allowed.
BASF cited a lack of ethylene in Europe, higher raw material costs and unsatisfactory margins as reasons for the proposed increase.
It was not immediately clear whether the price rise would be accepted in full.
BASF did not disclose the percentage scale of the planned rise and declined to comment on current price levels.
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