Americas caustic soda settles at $410/tonne
15 January 2008 22:03 [Source: ICIS news]
HOUSTON (ICIS news)--Caustic soda sold to alumina producers in the Americas will be priced at a benchmark of $410/DMT (dry metric tonnes) for the first half of 2008, a 22% increase driven by supply tightness, buyers and producers said on Tuesday.
The settlement was a record high, Bank of America (BOA) analysts said in an equity research note. The BOA had earlier projected the settlement at $385-390/DMT FOB (free on board).
Buyers and producers had settled at $337/DMT FOB for the second half of 2007, which was slightly below producers’ initial nomination of $420-440/DMT FOB.
Alumina producers consume 10% of the caustic soda produced in
US caustic soda producers include Dow Chemical, Occidental Chemical, Formosa, Olin, Georgia Gulf and PPG Industries.
By: Greg Holt
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