31 January 2012 20:37 [Source: ICIS news]
HOUSTON (ICIS)--A small increase for US ethyl acetate (etac) appears to be gaining acceptance, a distributor said on Tuesday.
“From nearly all of the companies I’ve talked to, it’s passing through,” the distributor said, referring to a 2-cent/lb ($44/tonne, €33/tonne) proposal issued by producers Eastman Chemical and Celanese.
Eastman’s increase takes effect on 2 February, according to an announcement. Celanese’s hike, announced on 15 January, took effect immediately.
Distributors last week said buyers might accept the increase. Buyers said there had been some resistance because the hike is smaller than most increases, which usually range 3-5 cents/lb or more.
But another distributor said prices had not changed yet, probably because one seller had not raised prices.
“That in itself may hurt Eastman and Celanese’s chances for their increases,” the distributor said.
($1 = €0.76)
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