13 February 2012 21:08 [Source: ICIS news]
HOUSTON (ICIS)--Saudi-based SABIC Innovative Plastics has proposed a 9-cent/lb increase for its polycarbonate (PC) material, sources said on Monday.
The global increase is SABIC's second proposal this year. The initial price increase proposal called for an additional 11 cents/lb, and becomes effective with shipments made on or after Monday.
US PC prices range from $1.50–1.82/lb.
SABIC was not available for comment.
Market sources said SABIC is seeking the price increase because of continuing increases in the cost of several of its raw materials used in the manufacture of PC resins.
Some buyers were not surprised by the increase as they have seen feedstock costs escalating.
However, one buyer called it “absolutely crazy”.
Feedstock benzene and propylene contract prices have increased significantly since the beginning of the the year. Both are used in the manufacture of cumene, from which phenol and acetone are derived. Phenol and acetone are then used to make bis-phenol A (BPA), which is then manufactured into PC.
Styron instituted a 13 cent/lb price increase for PC effective 1 February and has a second increase, for 12 cents/lb, planned for 1 March. Bayer has a price increase of 17 cents/lb, also scheduled for 1 March.
SABIC is one of three PC producers in the US. The others are Bayer and Styron.
($1 = €0.76)
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