BASF seeks US acrylates hikes for February on rising costs

15 January 2011 00:09  [Source: ICIS news]

HOUSTON (ICIS)--BASF plans to increase the price of its US acrylic acid and acrylate esters by 9 cents/lb ($198/tonne, €149/tonne) effective 1 February, the company said Friday, citing escalating costs.

The market was still negotiating January initiatives ranging from 6 cents/lb ($132/tonne) for all of the products to as much as 16 cents/lb for 2-ethylhexyl acrylate (2-EHA).

Most market sources said they expectee January acrylates contracts to settle at plus 6-8 cents/lb later in the month.

The current contract range for glacial acrylic acid (GAA) is 122-127 cents/lb, as assessed by ICIS.

Buyers said further price efforts from other producers would likely continue to surface.

“I'm not surprised,” a buyer said. “I was expecting it with propylene settling up by 15 cents/lb.”

Although December feedstock chemical-grade propylene (CGP) gained only 3 cents/lb, the propylene market was split for January after a prolonged settlement process, sources said, taking CGP up by 15 cents to 74 cents/lb.

US propylene contracts were widely expected to rise in January following a 42% surge in refinery grade propylene (RGP) spot prices in December.

($1 = €0.75)

For more on BASF, visit ICIS plants and projects
For more on acrylic acid and the acrylate esters, including butyl acrylate, visit ICIS chemical intelligence
To discuss issues facing the chemical industry, go to ICIS connect


By: Larry Terry
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