31 March 2010 21:02 [Source: ICIS news]
HOUSTON (ICIS news)--US polyether polyols prices were poised to rise 8 cents/lb ($176/tonne, €132/tonne) on 15 April, driven by tight and expensive feedstocks, sources said on Wednesday.
The increase was likely to succeed because the initiative was supported by three key polyether polyols producers, a buyer said.
Additionally, two polyether polyols producers nominated a 15 cent/lb boost for 1 May.
Buyers and sellers acknowledged that high prices and tight supply of feedstocks propylene and propylene glycol strongly supported the hikes for polyether polyols.
Cost pressure is outweighing current weak demand for polyols and downstream flexible urethane foam products, according to participants.
However, market participants anticipated modest but gradually improving business in 2010 over 2009.
US flexible slabstock conventional polyols prices were at $1.07-1.14/lb delivered (?xml:namespace>
Polyols along with isocyanates are key raw materials in the production of polyurethane foams.
US polyether polyols producers include Bayer MaterialScience, Dow and BASF.
($1 = €0.75)
To discuss issues facing the chemical industry go to ICIS connect
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|