28 February 2011 17:49 [Source: ICIS news]
INEOS ABS said its target is an increase of 5 cents/lb ($110/tonne, €80/tonne) for all standard extrusion and injection grades of ABS, and 9 cents/lb for high-heat-resistant ABS.
The producer said the price increases are a necessary response to rising acrylonitrile (ACN), butadiene (BD) and styrene monomer (SM) costs.
This price increase nomination follows previously announced hikes of 6 cents/lb from INEOS ABS and Styron, which went into effect on 21 February, and 9 cents/lb from SABIC Innovative Plastics, effective on Monday or as contracts allow.
A distributor said it does not expect buyers to contest the latest proposed price increase.
The main drivers for the current strong US ABS demand are the automotive, electronics and appliances sectors, with the building and construction industry looking weaker.
($1 = €0.73)
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