US producers to seek chlorinated solvents hike

02 June 2008 22:25  [Source: ICIS news]

HOUSTON (ICIS news)--Rising energy costs have led US chlorinated solvent producers Dow and Occidental Chemical to propose a 4 cent/lb ($88/tonne) price hike for perchloroethylene (perc), methylene chloride and chloroform in North America, market sources said on Monday.

Dow also announced a larger plus 8 cent/lb increase nomination for trichloroethylene, sources said.

The announcement came amid a round of price increases across Dow’s line of products as the energy complex reached record values.

Market sources said Dow sought a higher increase for TCE because it has fewer competitors in that market and is more secure in its market share.

If accepted by buyers, the increase will take effect for monthly contracts in late June after a 30-day price protection period.

It remained unclear on Monday if competing producer PPG Industries would announce similar price hike proposals.

($1.00 = €0.64)

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By: Greg Holt
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