07 September 2011 17:05 [Source: ICIS news]
HOUSTON (ICIS)--BASF confirmed on Wednesday it will increase list and off-list prices on North American butanediol (BDO) by 8 cents/lb ($176/tonne, €127/tonne), effective on 1 October or as contracts allow.
The company added that it was also raising prices on BDO derivatives gamma-butyrolactone (GBL), N-methylpyrrolidone (NMP) and N-ethylpyrrolidone (NEP) by 10 cents/lb, while tetrahydrofuran (THF) and polytetramethylene ether glycol (PolyTHF) will be increased by 12 cents/lb.
No other North American BDO producers have confirmed any price increases as of yet, but sources have said the global economic uncertainty and volatile energy prices would likely influence any price initiatives.
Buyer reaction has been thin thus far.
One BDO consumer said earlier this week that it was hoping for a rollover and no increase would be justified, since it has had no trouble sourcing material and North American prices are already at record highs.
Third-quarter North American BDO prices were at 150-164 cents/lb, according to ICIS.
Major North American BDO producers include BASF, LyondellBassell and Ashland.
($1 = €0.72)
For more information on BDO visit ICIS chemical intelligence
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