26 June 2008 18:21 [Source: ICIS news]
With two hikes in the past month, Dow is seeking a combined 6 cents/lb ($132/tonne or €84/tonne) raise on VAM effective 1 July. It announced a 2 cents/lb raise on Monday and a 4 cents/lb hike on 2 June.
The increase is part of Dow's recent rate changes citing unprecedented energy and raw material costs.
The buyer said a hike of 3-4 cents/lb was the best compromise, if any, that could be expected from Dow. The buyer's other supplier also has nominated a similar increase.
Celanese issued a 6-cents/lb increase proposal for VAM earlier in the month.
VAM is used to make emulsion polymers, resins and other intermediates for paints, adhesives, coatings, textiles, wire and cable, laminated safety glass, packaging, automotive parts and acrylic fibres.
US VAM producers include Dow, Celanese, DuPont and LyondellBasell.
($1 = €0.64)
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