17 March 2011 22:17 [Source: ICIS news]
The domestic contract price range for glacial acrylic acid remains at 1.38-1.43 cents/lb, as assessed by ICIS, the same range settled at in February after rising by 8 cents/lb from January.
“We did roll over prices into March as raw materials are relatively stable, but we expect demand to continue to get even stronger with coatings season upon us,” one producer said.
In a letter to customers, Dow Chemical said it would raise acrylates prices by 7 cents/lb for 1 April, citing strong demand, anticipated higher costs for raw materials and the need to maintain re-investment pricing levels.
Another producer said that although it once expected feedstock propylene to soften well into April and beyond, oil and natural gas prices were more likely to continue driving up refinery-grade propylene (RGP) prices, which pushes CGP values.
The producer said it would pursue higher acrylates prices if raw material prices continue to remain elevated or increase, and if acrylate demand stays strong.
However, a buyer described the acrylates market in March as “boring”, and insisted prices would soften on lengthening acrylates supply.
The major US acrylates suppliers are Dow Chemical, Arkema, BASF and Sasol.
($1 = €0.72)
For more on acrylic acid and acrylate esters, visit ICIS chemical intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections