09 February 2011 22:49 [Source: ICIS news]
HOUSTON (ICIS)--SABIC Innovative Plastics announced a price increase on ?xml:namespace>
A source close to SABIC said the company was seeking a price increase of 14 cents/lb ($309/tonne, €225/tonne) effective 28 February, or as contracts allow.
The initiative came on the heels of Bayer MaterialScience declaring force majuere (FM) on North American polycarbonates because of production issues at the company’s 260,000 tonne/year PC plant in
Two buyers said that with supply limited by Bayer’s FM, SABIC is likely to successfully push through most of its PC increase initiative.
“[Bayer’s FM] should play right into SABIC’s hand,” a buyer said.
Sources also said that improved demand for PC should lend strength to increasing prices.
A source close to SABIC said the price increase nomination was mostly fuelled by surging benzene costs. The
($1 = €0.73)
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