09 May 2011 17:30 [Source: ICIS news]
LONDON (ICIS)--ExxonMobil will seek $60/tonne (€42/tonne) increases for all of its grades of Group I base oils in domestic European markets from 24 May, the second price hike this month, customers said on Monday.
The company raised prices for SN150, SN600 and brightstock by $50/tonne on 6 May. The $60/tonne increase will be its fifth European price rise this year.
Before ExxonMobil’s 6 May price increases had been taken into account, ICIS on 3 May quoted domestic prices for the main SN150 grade at $1,380–1,420/tonne FOB (free on board) NWE (northwest Europe).
ExxonMobil has not commented on the timing or extent of its price increases.
($1 = €0.70)
For more on ExxonMobil visit ICIS company intelligence
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