NPRA '08: 2-ct US aromatics solvent hike planned

31 March 2008 22:44 [Source: ICIS news]

SAN ANTONIO, Texas (ICIS news)--A major US aromatic solvents producer will seek a 2-cent ($44/tonne) increase in aromatic solvents due to rising crude prices and increasing demand from fuel blenders ahead of the summer driving season, it said on Tuesday.

The proposed price hike would apply to truck and railcar xylene, toluene, Aromatic 100 and Aromatic 150, and would be effective on 1 April, the producer said on the sidelines of the 33rd National Petrochemical & Refiners Association (NPRA) meeting.

While buyers did not immediately comment, a trader that bought and resold aromatics said the increase was likely to succeed.

US Gulf coast toluene and xylene prices are currently at 49-53 cents/lb and 50-54 cents/lb, respectively, according to global chemical market intelligence service ICIS pricing.

The meeting began on Sunday and runs through Tuesday.

($1 = €0.63)

For more on aromatics and aliphatics (AAS) visit ICIS chemical intelligence

By: Gene Lockard
1 713 525 2653

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