06 September 2012 00:06 [Source: ICIS news]
HOUSTON (ICIS)--US petrochemical producer Occidental Chemicals is seeking a $40/short ton (st) (€35/tonne) increase for hydrochloric acid (HCl) in North America, effective immediately or as contracts allow, a company source confirmed Wednesday.
Other producers have already announced or soon may be announcing similar price initiatives, sources said but they were not confirmed independently.
The US Gulf price of HCl was assessed by ICIS at $200-280/st.
The OxyChem source said the announced increase was based on expected tightness in supply, as well as increased demand for by-products methyl di-p-phenylene isocyanate (MDI) and tolune di-isocyanate (TDI). Outages caused last week by Hurricane Isaac in Louisiana, where many production facilities are located, also lend support to the increase, the source said.
An earlier round of price initiatives were not implemented because of lack of support. But market sources said there was more likelihood that the newest set of initiatives will gain traction.
Other major US producers of HCl include Dow Chemical, Bayer, Olin and PPG Industries.
($1 = €0.80)
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