US FMC seeks $10/ton price hike for soda ash

24 May 2010 22:01  [Source: ICIS news]

HOUSTON (ICIS news)--US soda ash major FMC will seek to increase off-list soda ash prices by $10/ton (€9/tonne) as of 1 July, the company said on Monday.

The increase was needed “to recover cost increases and to support continued investment in the business", the company said in a statement.

The increase would apply to all grades of soda ash, but it was not specified whether the hike was for buyers in all regions, according to the statement. Sources in the company did not immediately return calls seeking further detail.

US soda ash contracts, settled annually, were assessed for 2010 at $135-175/ton, according to data from global chemical market intelligence service ICIS pricing.   

US buyers have complained that soda ash producers have used domestic price increases to leverage price cuts for export material as they fight for market share against Chinese producers in Asia.

($1 = €0.80)

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By: Ben Lefebvre
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