Dow issues April solvents proposals for North America

02 March 2009 12:57  [Source: ICIS news]

HOUSTON (ICIS news)--Dow Chemical's proposal to increase North American oxygenated solvent rates is intended to halt price declines, a distributor said on Monday.

"I think the proposal is primarily to stop the bleeding and the expectation of lower prices at month’s end," the distributor said.

In a letter to customers dated 27 February, Dow said it was increasing prices on 55 products in its oxygenated solvents portfolio - including propionic acid, isopropanol (IPA) , butyl acetate (butac) and glycol ethers - by 4-5 cents/lb ($88-110/tonne or €70-87/tonne) effective on 1 April.

"Despite declines in demand as a result of the global economic downturn, raw material and energy costs have once again begun to rise at an accelerated pace," Dow said in the letter. "Therefore, these increases are critical to address the significant margin compression."

A Dow spokesman did not immediately return a call seeking comment.

($1 = €0.79)

To discuss issues facing the chemical industry go to ICIS connect

View an archived ICIS webinar on solvents here

 


 


By: Lane Kelley
+1 713 525 2653



AddThis Social Bookmark Button

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