19 July 2011 17:35 [Source: ICIS news]
HOUSTON (ICIS)--US ethylene glycol (EG) producers announced no new price increases in August are likely to attempt a rollover for the month, a reseller said on Tuesday.
EG producers typically propose a price increase two weeks before the increase is scheduled to go into effect. However, no new EG price hikes were heard for August.
“Buyers will push for a drop in prices, but producers will attempt to keep prices flat with July,” the reseller said.
July price increases of 3-5 cents/lb ($66-110/tonne, €47-78/tonne) appear to be succeeding, and industrial grade (EGI) material will likely end up in a range of 60-65 cents/lb FOB (free on board). June EGI prices were 57-62 cents/lb FOB, as assessed by ICIS.
Supply early in July was snug, in part because Formosa Plastics exported its production to its subsidiary Nan Ya Plastics plant in ?xml:namespace>
Major US EG producers include Arch Chemicals, Huntsman, LyondellBasell, MEGlobal,
($1 = €0.71)
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