04 May 2004 19:00 [Source: ICIS news]
LONDON (CNI)--US-headquartered Resolution Performance Products (RPP) said Tuesday it will seek increases of between $100 (Euro83) and $500 per tonne for its liquid epoxy resins and solutions/solids in Asia Pacific and the Middle East.
An RPP spokesman said it was the first time the company had been forced to introduce a mid quarter price rise. He said the proposed rise was needed to restore margins badly eroded by the high cost of feedstocks. The main raw materials for epoxy resins are bisphenol A (BPA) and epichlorohydrin (ECH).
RPP is proposing a rise of $150/tonne for liquid epoxy resins, $100 for solid epoxy resins and solutions (X75), brominated resins and polyamide curing agents. It is seeking a $200/tonne increase for specialty curing agents and $500 for high performance resins.
The increases will represent increases of around 6-8%, according to a market source. He described demand for epoxy resins as "tightly balanced". About half RPP's customers are believed to be on quarterly contracts and therefore are likely to remain on their current tariffs until July.
RPP last adjusted prices on 1 April when it sought a similar 6-8% rise.
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