09 August 2011 21:27 [Source: ICIS news]
HOUSTON (ICIS)--Mexico expandable polystyrene (EPS) producer Polioles has announced a 2 cent/lb price increase for all grades of EPS, effective on 1 September, according to a letter sent to customers on Tuesday.
The proposed increase is in addition to increases of 3 cents/lb ($66/tonne, €46/tonne) for non-modified EPS and 5 cents/lb for modified EPS, which contains a flame retardant, nominated for 15 August.
The letter said that the increase is necessary because of rising raw material costs, including recent increases in benzene and styrene monomer (SM).
Buyers have expressed scepticism that suppliers will get all they are asking for, suggesting that prices would instead rise by only 2-3 cents/lb, given weakness in the Mexican construction and packaging sectors.
Mexican EPS prices were in the range of 105–108 cents/lb, as assessed by ICIS.
($1 = €0.70)For more on EPS visit ICIS chemical intelligence
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections