02 February 2010 18:13 [Source: ICIS news]
HOUSTON (ICIS news)--US epoxy resins suppliers announced another round of price hikes to take effect in the next month amid continued pressure from raw material costs and declining competition from overseas, sources said on Tuesday.
Dow Chemical said it would implement a 10 cent/lb ($220/tonne or €158/tonne) increase, effective 15 February or as contracts allow, while Hexion planned for an 8 cent/lb increase to take effect no earlier than 1 March.
Sources expected Huntsman to also issue an increase announcement in the near future.
“Raw material prices keep going up and demand is higher than supply right now,” a producer said. “We beat our pretty aggressive expectations for December and January.”
“Imports have dried up because pricing is above domestic,” a large LER buyer said. “I can get imports, but there’s not any savings.”
US LER spot prices to small-volume bulk customers were at $1.10-1.14/lb
($1 = €0.72)
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