07 February 2011 00:00 [Source: ICB]
US PET RISES IN JANUARY ON FEEDSTOCKS
US polyethylene terephthalate (PET) prices rose by 3 cents/lb ($66/tonne, €49/tonne) in January based on higher prices for feedstocks paraxylene (PX) and purified terephthalic acid (PTA). January prices were 86.71-88.71 cents/lb after the increases, as assessed by ICIS.
ABS PRICES ON RISE AFTER NOMINATIONS
SABIC Innovative Plastics is seeking a 7 cent/lb ($154/tonne, €116/tonne) price hike for certain grades of acrylonitrile-butadiene-styrene (ABS) copolymer. The increase is meant for extrusion sheet, pipe-grade and molded fittings material-grade ABS and is effective February 1. INEOS ABS is also seeking a price increase for all grades of ABS, with a 6 cent/lb nomination, effective February 21, or as contracts allow. Meanwhile, Styron nominated a price increase of 6 cents/lb for ABS in the US. The increase is effective February 21, or as contracts allow. Price increases have been mostly fueled by rising feedstock costs of butadiene (BD) and styrene monomer. ABS demand has been stable to strong and some market players expect the construction sector to pick up by the end of this year's first quarter.
SBR CONTRACT UP ON STRONG DEMAND
Styrene butadiene rubber (SBR) contract prices in Europe have risen by up to €150/tonne ($200/tonne) for January. The increases were driven by strong demand, high prices in Asia, and higher feedstock costs. Sources reported that larger price hikes are likely for February on the back of expected rising butadiene (BD) prices. This January contract marks the first monthly SBR settlement.
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