Corrected: Americas soda settles at $337/DMT

02 August 2007 17:32  [Source: ICIS news]

Correction: In the ICIS news story headlined “Americas alumina settles at $337/DMT” dated 2 August 2007, please read the headline as “… caustic soda for alumina … ”  instead of  “ … alumina …”

(Adds dropped words “and Latin America” in paragraph 6)

HOUSTON (ICIS news)--Caustic soda producers and buyers in the alumina sector have agreed to a six-month benchmark of $337/dry metric tonne (DMT) free on board (FOB) for the Americas, one producer said on Thursday.

While the settlement was a significant increase from the first half-2007 price of $255/DMT, some producers said they were disappointed that it was not higher.

“It was certainly below expectations, given the tight markets in the Americas but after a long round of negotiations, we are glad we finally settled,” one producer said.

All alumina producers in North and South America will follow this benchmark throughout the second half of 2007, sources said.

A separate alumina benchmark for Asia and the Middle East was recently settled at $270/DMT, a modest increase from $265/DMT in the first half-2007, sources said.

Caustic soda producers in the US and Latin America include Dow Chemical, Georgia Gulf, Olin, Occidental Chemical, Formosa, PPG Industries, Carbocloro, Braskem, Solvay, Canexus, Mexichem and Transclor.

By: Greg Holt
+1 713 525 2653

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