11 May 2010 22:38 [Source: ICIS news]
HOUSTON (ICIS news)--Hexion Specialty Chemicals is seeking a 10 cent/lb ($220/tonne, €172/tonne) increase on its epoxy resins products in the Americas to take effect on 1 June, the company said on Tuesday.
“This increase is in addition to previously announced increases and is driven by the continued rise in raw material costs as well as global and regional shortages of epoxy resins and their intermediates,” Hexion said in a posting on its website.
With this announcement, Hexion has nominated a total of 60 cents/lb in price hikes for 2010.
Huntsman Advanced Materials announced a similar 1 June increase at the beginning of May.
Dow Chemical was the third major supplier in the ?xml:namespace>
An epoxy resins buyer said economic conditions in some downstream sectors, such as construction, were not strong enough to support the recent run-up in epoxy resins pricing.
The source said the
US producers have had very limited spot availability in recent weeks because of raw material shortages and strengthening year-over-year demand, sources said.
Spot prices for May deliveries of bulk LER were mainly discussed in the $1.50s/lb
($1 = €0.78)
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