11 May 2009 21:12 [Source: ICIS news]
HOUSTON (ICIS news)--US glycol ethers and oxo-alcohol price-hike nominations for June were more viable than previous initiatives, but buyers said on Monday the market might not be able to withstand price increases.
"They are really pushing these increases," a distributor said. “Last time they were a joke ... but this time it is a little different.”
However, a buy-side source said: “What they actually get is still a question.”
Buyers said Dow Chemical and LyondellBasell had issued price-nominations, effective on 1 June, for the glycol ethers and oxo-alcohols.
Dow announced price increases of 3-5 cents/lb ($66-110/tonne or €48-80/tonne) effective on 1 June, a spokesperson said.
LyondellBasell did not return calls seeking comment.
In March, Dow said it was increasing prices on 55 products in its oxygenated solvents portfolio - including n-butanol (NBA), isobutanol (IBA) , 2-ethylhexanol (2-EH) and numerous glycol ethers - by 4-5 cents/lb, effective on 1 April.
Other producers issued price-increase nominations for April but slack demand and ample inventories hampered the initiatives, a buyer said.
Major US producers of oxo-alcohols and glycol ethers include Dow Chemical, BASF, Eastman Chemical, Sasol and Oxea.
($1 = €0.73)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections