US MA producer seeks 3.00 cent/lb increase for January

30 November 2010 18:34  [Source: ICIS news]

HOUSTON (ICIS)--A US maleic anhydride (MA) producer on Tuesday said it would seek a 3.00 cents/lb ($66/tonne, €50/tonne) price increase effective 1 January on the back of rising feedstock butane costs.

The announcement was the first from the producer in seven months and if passed would be the first hike in the market since June.

Justification for the price increase came as a result of escalating butane prices.

Butane is the primary raw material for MA production. US butane prices were at 167 cents/gal, compared with prices in the 140s cents/gal in May.

No formal price announcements were heard from the other three suppliers.

Buyer reaction was not immediately available.

The December MA contract price was settled at 76.20-82.20 cents/lb.

Major US MA producers include Huntsman, Lanxess, Marathon and Flint Hills Resources.

($1 = €.76)

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By Ruth Liao
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