30 January 2012 11:48 [Source: ICIS news]
LONDON (ICIS)--BASF is targeting a €60/tonne hike across all ethanolamines grades in Europe following soaring feedstock costs, the Germany-based chemicals major said on Monday.
This follows a €50/tonne ($66/tonne) increase BASF announced in January, mainly for the same reason, which it implemented successfully in most cases, a company source said. However, other producers said they were not so successful in achieving price increases in January because of weak demand.
A couple of ethanolamines buyers maintain that demand may still not be strong enough to support such an increase. The first couple of months of the year is usually a quiet period anyway, and this has been exacerbated by uncertainty surrounding the eurozone debt crisis.
“A February increase may be possible but the reality is we won’t see it until March,” said one customer.
January triethanolamine prices were pegged at €1,400-1,450/tonne FD (free delivered) NWE (northwest Europe).
($1 = €0.76)
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