BASF targets €100/t hikes on specialty plastics

16 June 2008 17:17  [Source: ICIS news]

LONDON (ICIS news)--BASF will target increases of up to €400/tonne ($615/tonne) across its range of specialty plastic products, including styrene acrylonitrile (SAN), a company source said late on Monday.

SAN would see a €100/tonne increase on quarterly contracts and a €50/tonne increase on monthly contracts, according to the source.

The increases, effective from 1 July, were seen as vital as increased energy, transportation and feedstock costs meant that margins were being eroded, said the source.

Dow Europe had previously announced similar target increases of €100/tonne across its SAN contracts this month.

Buyers had been resistant to price increases in the market, adamant that market fundamentals did not merit price hikes.

However, with two major producers in the European market announcing higher targets, other producers hoped that a price increase was inevitable.

($1 = €0.65)

For more on styrene acrylonitrile please visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Sarah Trinder
+44 20 8652 3214

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 30 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly