06 June 2012 23:16 [Source: ICIS news]
HOUSTON (ICIS)--Bayer MaterialScience will seek a price increase for its US polycarbonate (PC) material, according to several sources on Wednesday.
According to sources, Bayer MaterialScience will seek an additional 10 cents/lb ($220/tonne, €176/tonne) for its PC material. Some sources added the increase is for specific markets.
Market sources confirmed Bayer MaterialScience has issued a letter to its PC buyers announcing the price increase proposal to become effective on 20 June or as soon as contracts permit.
Bayer MaterialScience has not responded to requests to confirm the proposal.
According to sources, the company is seeing the increase to meet feedstock costs concerns and to restore its margins.
Currently, spot prices for general purpose moulding and extrusion PC in bulk is $1.68-2.00/lb and $1.73-2.05/lb for package quantities.
Producers of PC in the US include Bayer MaterialScience, SABIC Innovative Plastics and Styron.
($1 = €0.80)
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