01 November 2012 20:20 [Source: ICIS news]
HOUSTON (ICIS)--BASF seeks to increase North American nylon 6 prices by 10 cents/lb ($220/tonne, €170/tonne), effective on 5 November or as contracts allow, a company said on Thursday.
In a statement, BASF attributed the increase to feedstock.
The November US benzene contract, a building block for nylon, rose 50 cents/gal, settling on Wednesday at $4.90/gal.
Since January, the contract price for benzene has risen by 32.4%.
Benzene spot prices were well above the $5.00/gal mark in October, with a record high trade achieved at $5.35/gal FOB (free on board).
Buyers were generally unavailable for comment. One buyer that did comment said it would not be affected by the proposed increase, as it has a contract with the supplier.
BASF did not respond to a request for further comment.($1 = €0.77)
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