27 January 2011 23:31 [Source: ICIS news]
The price increase nomination was for 6 cents/lb ($132/tonne, €97/tonne) effective 21 February, or as contracts allow, INEOS said in a customer letter obtained by ICIS.
The initiative is the second in the past two months from INEOS, following nominations from December for 9 cents/lb for all grades of ABS, which were met by Styron and SABIC Innovative Plastics.
The February price increase initiative was fuelled by rising feedstock costs from butadiene (BD) and styrene monomer (SM), INEOS said.
ABS buyers could not be immediately reached for comment.
BD contract prices were expected to increase by 3-5 cents/lb for February. SM producers have nominated an increase of 7-8 cents/lb for the January contract.
Currently, US domestic ABS prices were assessed by ICIS at 135-155 cents/lb for extrusion-grade material and at 126-145 cents/lb for injection-grade material.
($1 = €0.73)
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