Ticona seeks Euro and US increases on polyester products

21 January 2005 16:26  [Source: ICIS news]

LONDON (CNI)--Ticona, the technical polymers business of commodity chemicals group Celanese, will be seeking price increases on polybutylene terephthalate (PBT), polyethylene terephthalate (PET) and its Vandar thermoplastic polyester blends in Europe and the US on all shipments from 14 February, it was announced on Friday.

 

The company said in a statement that the proposed increases "reflect the continuing rise in the cost of polyester feedstocks, which now stand at record levels".

 

Ticona is seeking at an increase of Euro200/tonne or 7-8% in European PBT prices. Current contract prices are Euro2400-2800/tonne free delivered (FD) Northwest Europe (NWE), according to global price reporting and market intelligence service ICIS-LOR*. In the US, Ticona will be seeking to raise prices by $243/tonne. No current pricing information was available.

 

Other PBT producers are also aiming for increases of around Euro100-200/tonne.

 

In Europe, Ticona will also be seeking a Euro150/tonne or around 11% increase on PET prices. Current price levels are Euro1345-1375/tonne FD NWE for bottle grade material and Euro1305-1355/tonne FD NWE for film grade, according to ICIS-LOR.

 

PET prices rises of $132/tonne are being sought in the US. The proposed new prices are about 7% up from current levels of $1808-1918/tonne delivered for bottle grade.

 

In the US, other PET producers have also been aiming for increases in the first quarter.

 

Some suppliers in Europe have been offering their customers decreases during contract negotiations for January, in line with falling raw material costs, and market players expect prices to go down. However, feedstocks prices are predicted to rise again in February due to expected tight supply and higher Asian prices.

 

Ticona is also seeking price hikes for its Vandar thermoplastic polyester blends. It wants an increase of Euro200/tonne in Europe and $243/tonne in the US. Current price levels were not available.

 

*ICIS-LOR is part of the same publishing group as CNI.

By: Hilde Ovrebekk
+44 20 8652 3214

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