08 March 2012 21:11 [Source: ICIS news]
SABIC made the announcement on Wednesday, calling for an increase of 9 cents/lb for ABS and 10 cents/lb for its PC materials on a global basis.
“I know that feedstock costs have risen, but the price increases are not demand driven, but feedstock driven. I just don’t know how much of the increases will stick,” an ABS buyer said.
Another ABS buyer said he was not sure when the price increases would stop, because the reason for the increases are cost-driven, not demand-driven.
SABIC said the continuing increase in feedstock costs have necessitated the increases, adding that demand also played a role in seeking a price increase.
The producer said demand has remained strong for its ABS and PC.
The price initiatives will go into effect on 2 April.
ABS prices range from 128–153 cents/lb, while PC prices range from 150–182 cents/lb.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|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