14 December 2010 20:54 [Source: ICIS news]
HOUSTON (ICIS)--A third US maleic anhydride (MA) producer is seeking a price hike of 3 cents/lb ($66/tonne, €50/tonne) for January, sources said on Tuesday.
The first price nomination was announced by an MA producer on 30 November. Two more price nominations at the same level were followed last week and this week.
A fourth producer was heard to offer a similar price increase, but this was not confirmed.
If passed, the price increases would be the first seen in the market since June.
Current molten MA prices in the US were in the range of 76.20-82.20 cents/lb, as assessed by ICIS pricing.
Producers appeared optimistic the price increase would hold, given the increasingly escalating prices of butane.
“This is pretty excessive cost pressure on MA producers and more than the 3 cent/lb increase that we announced,” one producer said.
Buyers have met the announcements with some scepticism.
US MA producers include Flint Hills Resources, Huntsman, Ashland and Lanxess.
($1 = €0.75)
By: Ruth Liao
+1 (713) 525-2635
For more on maleic anhydride, visit ICIS chemical intelligence
To discuss issues facing the chemical industry, go to ICIS connect
Paul Hodges studies key influencers shaping the chemical industry in Chemicals and the Economy
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|
Asian Chemical Connections