28 March 2011 00:32 [Source: ICIS news]
Two producers, Eastman and LyondellBasell, have said they will raise acetic acid prices by 3 cents/lb in North America and Latin America on 1 April, due to increased demand and higher raw material, energy and freight costs.
The buyer said recent increases in feedstock natural gas might enable producers to justify some but not all of their proposed hike.
“If there’s any increase it’s going to be nominal,” the buyer said.
The buyer confirmed the existing acetic spot range of $600-700 tonne, or 27-32 cents lb. The buyer said the top of the spot range could increase to 33-34 cents/lb as a result of the proposed April hike.
Hosted by the National Petrochemical & Refiners Association (NPRA), the IPC continues through Tuesday.
($1 = €0.70)
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