28 October 2008 23:12 [Source: ICIS news]
HOUSTON (ICIS news)--US caustic soda producer Occidental Chemical (OxyChem) has announced a $275/dst (dry short ton) price hike effective immediately for buyers without 30-day price protection and late November for buyers with protection, a source close to the company said on Tuesday.
OxyChem and PPG did not immediately respond to calls by ICIS news.
October contract prices were assessed at $1,075-1,145/dst FOB (free on board), according to global chemical market intelligence service ICIS pricing.
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“We are seeing worldwide demand for vinyls soften very quickly, and that will drive down chlor-alkali production,” the source said.
“I think it’s ridiculous. The [
The US domestic spot price averaged $990/dst FOB US Gulf last week, while the export spot price averaged $980/dmt (dry metric tonne) same basis, according to ICIS pricing.
Nevertheless, the source close to OxyChem said the company views Asian caustic soda exports to the
“In the short term that product is sorely needed. It would take a lot of ships coming over the Pacific to even put a dent in
Occidental Petroleum reported on Tuesday a 3.3% year-on-year profit increase in its OxyChem chemicals segment, to $219m, primarily due to higher caustic soda margins.
US caustic soda producers include OxyChem, PPG Industries, Dow Chemical,
($1 = €0.80)For more on caustic soda, visit ICIS chemical intelligence
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