08 April 2011 22:17 [Source: ICIS news]
As such, US domestic ABS prices were assessed by ICIS at 148-168 cents/lb ($3,263-3704/tonne, €2,284-2,593/tonne) DEL (delivered) for extrusion material and at 139-160 cents/lb for injection material, as of 8 April.
The initiatives gained strength from rising costs for key feedstocks acrylonitrile (ACN) and butadiene (BD), as well as continued high prices for styrene monomer (SM).
The initiatives were for 5 cents/lb from INEOS ABS effective on 1 April; 7 cents/lb from Styron effective on 1 April; and 13 cents/lb from SABIC Innovative Plastics effective on 4 April.
Sources also said BASF had come through with a nomination of 8 cents/lb, but this could not be confirmed.
Several distributors said the price increases had mostly passed, though the high end of the range was not accepted.
Adding to the higher ABS costs are surging prices for ACN and BD.
US spot ACN prices have started to approach the $3,000/tonne level. Meanwhile, the April US BD contract price increased by 17-19 cents/lb.
US ABS producers said they are not expecting either price to come down in the near future, which will put continued upward pressure on ABS prices.
With demand strong from the US automotive sector as well as the electronics and medical segments, there is room for higher ABS prices, distributors said.
In March, US auto sales increased by 17% year on year and 25.5% month on month.
($1 = €0.70)
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