17 December 2010 23:51 [Source: ICIS news]
HOUSTON (ICIS)--Honeywell Resins & Chemicals intends to raise its North American nylon 6 contract prices by 10 cents/lb ($220/tonne, €167/tonne) effective 10 January, the specialty chemicals producer announced on Friday.
The increase would cover all fibre grade and neat nylon 6 polymer for spinning and compounding applications, as well as extrusion-grade resins for packaging, the company said.
Honeywell cited ongoing run-up in raw material costs and global demand. Buyers were not immediately available for comment.
BASF announced a similar price effort earlier this week for its nylon 6 and nylon 6,66 resins on the same rationale.
Honeywell also said that it would move away from monthly formula pricing for nylon 6 feedstock caprolactam (capro).
“We will be pricing caprolactam in North America on equivalent terms as the Asia caprolactam flake price,” said Honeywell spokesperson Peter Dalpe. “We are doing this because the market...has become very global, and our price needs to reflect that in all regions. Following the global price is a clearer and more consistent price strategy.”
Honeywell’s Hopewell caprolactam plant in Virginia began starting up on Friday, a source said, after being shut down unexpectedly in early December for undisclosed reasons.
($1 = €0.76)
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