LANXESS hikes Europe Q4 polyamides in Q4

23 September 2008 17:18  [Source: ICIS news]

LONDON (ICIS news)--German specialty chemicals company LANXESS is to raise its prices on polyamide 6 and 6,6 by at least €0.35/kg ($0.51/kg) from 1 October on increased energy and feedstock costs, a company spokesperson confirmed on Tuesday.

“Consumers were expecting this and most contracts are being honoured,” said the spokesperson.

“The increases are on the back of the increased cost of transport, energy and raw materials.”

A large polyamide 6 and 6,6 consumer said: “Any upward pressure on price is wiped out by poor demand.

“For the auto guys there’s been a really big drop in demand,” the buyer added.

The announcement follows polyamide 6 and 6,6 price initiatives published by other European producers.

DuPont made public that it would be pushing for a €0.30/kg price increase from 1 October, while Rhodia said that it was targeting a 10% increase for fourth-quarter contracts.

“We are already advanced in our discussions but customers are arguing,” commented a Rhodia source

BASF was also reported to be targeting a €0.45/kg price rise in the fourth quarter.

Europe nylon was assessed around €2.01-2.05/kg FD (free delivered) NWE (northwest Europe) for virgin polymer nylon 6 and €2.33-248/kg for virgin polymer nylon 6,6, according to global chemical market intellegence ICIS pricing.

($1 = €0.68)

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By: Julia Meehan
+44 20 8652 3214

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