08 March 2006 10:48 [Source: ICIS news]
LONDON (ICIS news)--Price increases of up to Euro50/tonne would be sought for March styrene acrylonitrile (SAN) contract prices in attempt to regain lost margins in February, European producers said on Wednesday.
SAN prices rose by Euro20/tonne on the low end in February, despite strong demand. Styrene, accounting for up to 70% of SAN feedstock, rose by Euro50-62/tonne in February, which dented producers’ margins. Therefore, suppliers said they will push for higher prices in March.
Dow announced on Friday (3 March) that price increases of Euro100/tonne would be targeted for Q2 contract prices, effective from 15 March.
Buyers on monthly contracts doubted that prices would rise in March, pointing to the slight decrease in upstream styrene prices and a slightly longer market. Some purchasers were now expecting February prices to be rolled over into March, and pointed out that softening Asian prices could help this development.
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