04 January 2011 18:41 [Source: ICIS news]
Momentive Specialty Chemicals was pushing for a 7 cents/lb increase effective 1 January, while Dow Chemical was aiming for 15 January implementation of a similar amount. A market source said Huntsman announced a 10 cents/lb hike for 15 January.
Dow proposed an additional price increase of 10 cents/lb effective 1 February, sources said.
A buyer said the February announcement was likely intended to lend credence to the January price initiative, and some increase, perhaps 5 cents/lb, could be implemented in January.
Another buyer said the price increases would make US producers less competitive with suppliers of Asian imports.
In addition, global bisphenol-A (BPA) supply is expected to remain tight for the foreseeable future, although Asian demand has retreated from a peak in November 2010, a US LER producer said.
($1 = €0.75)
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