16 September 2010 20:24 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene glycol (EG) supplier MEGlobal will be seeking price increases of 2 cents/lb ($44/tonne, €34/tonne) on EG and 4 cents/lb on diethylene glycol (DEG) effective 1 October, a trader said on Thursday.
The increases were said to reflect the current supply-to-demand situation.
Buyers were not immediately available for comment. However, the trader said the price-hike initiative was likely to succeed due to tightening supply and expectations of steady demand in the fourth quarter.
US Gulf EG prices were 37-41 cents/lb FOB (free on board) at the end of August, as assessed by ICIS. Increase proposals of 3-4 cents/lb for September were still being negotiated.
US EG suppliers include Equistar, Huntsman, MEGlobal, Old World, SABIC and Shell.
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