16 March 2012 21:26 [Source: ICIS news]
HOUSTON (ICIS)--Acrylonitrile butadiene styrene (ABS) producers in North America achieved about 90% of their proposed price increases on average for February and March, moving the price ranges up 5-14 cents/lb from the start of the year, market sources said on Friday.
The following cumulative increases have been sought by the five North American ABS producers since the start of the year: INEOS ABS, 14 cents/lb; SABIC Innovative Plastics, 14 cents/lb for its general market ABS material and 28 cents/lb for its extruded pipe and sheet material; Styron, 16 cents/lb; Styrolution, 12 cents/lb; and Network and Diamond Polymers, 5 cents/lb.
The price movements for the various grades are as follows:
The producers have said the price increases sought have been based on rising feedstock costs for butadiene (BD), acrylonitrile (ACN) and styrene.
Buyers of ABS said they were not shocked that producers would seek the increases, although some argued that when the costs of feedstocks drop that producers are not as eager to decrease their prices.
When it was time to place orders, however, buyers have paid a large percentage of the increases when sought, unless they had purchase contracts that had different arrangements.
Producers and buyers said that contract arrangements extended for up to 30 days at the most, so eventually the parts of the higher prices were being paid by most buyers.
BD contract prices have risen from 98 cents/lb to 145 cents/lb, while the spot price has increased from 100-105 cents/lb to 155-160 cents/lb.
ACN domestic delivered contract prices have moved up to 109.18-113.62 cents/lb from 95.72-98.75 cents/lb since the start of the year. ACN spot prices have moved from to $2,200-2,280/tonne from $1,620-1,665/tonne.
The cost of styrene, which is tied to the cost of benzene, have moved from a December contract price of 59-63 cents/lb to 70-74 cents/lb since the start of the year, while spot prices have moved from 57-59 cents/lb to 67-68 cents/lb.
North American producers have the combined ACN capacity 945,000 tonnes/year.
($1 = €0.76)
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