Dow nominates second chlor solv price hike
03 December 2007 23:44 [Source: ICIS news]
HOUSTON (ICIS news)--Small volume buyers of chlorinated solvents were resigned on Monday to accept a second price increase nomination by producer Dow Chemical in little over a month.
Dow proposed a 7 cents/lb ($154/tonne) increase for methylene chloride, methyl chloride and chloroform, and a 4 cents/lb ($88/tonne) hike for trichloroethylene (TCE) and perchloroethylene (perc) for its North American markets.
“Most of us in this industry understand that you’re going to have fluctuations,” one small-volume buyer said. “With the price of crude, even chemicals that are not petroleum based, you see increases.”
Dow nominated price hikes of the same amounts on 1 November, citing the rising cost of energy and feedstock ethylene as factors.
Competitor Occidental Chemical (Oxy) proposed a 7 cents/lb increase for methylene chloride on 29 November.
If these two rounds of price hike nominations go through unimpeded, methylene chloride would be assessed 14cents/lb higher and perc and TCE 8 cents/lb higher than they were at the beginning of November, according to global chemical market intelligence service ICIS pricing.
The price range for methylene chloride is currently 44.00-48.80 cents/lb ex-tank US east coast and 32.00-36.00 cents/lb FOB (free on board) USG (US Gulf). Perc is currently commanding 41.00-47.00 cents/lb ex-tank
By: Ben Lefebvre
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