15 August 2012 18:15 [Source: ICIS news]
HOUSTON (ICIS)--Polycarbonate (PC) buyers could not be reached for comment on Wednesday regarding SABIC Innovative Plastics' plan to increase global prices by 11 cents/lb ($243/tonne, €196/tonne).
The increase is set to become effective on 10 September.
No other US PC producer has announced an increase since June.
Bayer MaterialScience sought a 10 cent/lb increase to be effective on 20 June. Styron announced a price increase proposal in March.
Since the beginning of the year, the PC market has seen increases of 18-35 cents/lb and decreases of 15 cents/lb.
The price initiative was confirmed by a SABIC company official.
The increase by SABIC is being sought because of continuing rising prices for raw materials.
PC prices are assessed at $1.53-1.85/lb for general purpose moulding and extrusion grade PC in bulk and $1.58-1.90/lb for package volumes. These prices were the result of falling feedstock costs and declining global demand and reflected as a 10 cents/lb decrease in late July.
At the time of the July decrease, market sources knew prices would soon move up as the contract cost of benzene had moved higher.
That decline had followed one on 27 June, on which spot prices had moved down by 5 cents/lb on falling feedstock costs.
US producers of PC include Bayer MaterialScience, SABIC Innovative Plastics and Styron.
($1 = €0.81)
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