21 April 2011 17:16 [Source: ICIS news]
HOUSTON (ICIS)--A large US perchloroethylene (perc) buyer said on Thursday that the most recent price-increase nomination is unlikely to see full implementation.
Occidental Chemical (OxyChem) announced on Thursday that it is seeking a price increase of 13 cents/lb ($287/tonne, €198/tonne) effective immediately, or as contracts allow.
However, a buyer said the full amount of the price increase “won’t hold” because the increase would push perc prices near 115 cents/lb FOB (free on board).
Market conditions have favoured perc producers for several months because of constricted supply and stable-to-strong demand.
No other price increase nominations have been heard from US perc producers Dow Chemical or PPG Industries.
Currently, US spot perc prices are assessed by ICIS at 84-94 cents/lb FOB.
($1 = €0.69)
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