05 September 2012 20:54 [Source: ICIS news]
HOUSTON (ICIS)--Bayer MaterialScience is targeting a 15 cent/lb ($331/tonne, €365/tonne) increase for two of its polycarbonate (PC) resins and an increase of 9 cents/lb for two PC blends materials in North America, sources said on Wednesday.
Bayer MaterialScience would not discuss pricing with ICIS.
Bayer MaterialScience is seeking a 15 cent/lb hike for its Apec and Makrolon PC resins. It is seeking a 9 cent/lb increase for its Bayblend and Makroblend PC blends.
The increases would take effect on 1 October, the company said in a letter to customers.
.It cited rising raw material, energy and transportation costs.
General purpose moulding and extrusion grades in bulk are assessed by ICIS at $1.53-1.85 cents/lb.
The increases are effective for shipments within North America on or after 1 October, or as soon as contracts allow, Bayer said in its price proposal letter.
One buyer said prices were slipping globally and wondered why producers were seeking increases.
SABIC Innovative Plastics and Styron each have already issued their intent to increase PC prices in September.
SABIC and Styron pointed to the price of benzene, which, along with propylene, is a building block for the production of PC.
Benzene has seen record high spot prices and contract prices this year, with spot prices reaching $5.50/gal in July and $4.60/gal for the August contract. Both prices have sinced dipped some.
Benzene spot prices have averaged $4.00/gal or more all but three weeks through the end of August 2012.Contract prices for benzene have been higher than $4.00/gal since the February contract, and have averaged $4.25/gal since the February contract and $4.19/gal in 2012.
Bayer MaterialScience, SABIC Innovative Plastics and Styron are the three PC producers in the US.
($1 = €0.80)
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