30 November 2012 17:38 [Source: ICIS news]
HOUSTON (ICIS)--INEOS ABS has announced its intent to increase its acrylonitrile-butadiene-styrene (ABS) prices in the Americas by 4 cents/lb ($88/tonne, €68/tonne) effective 1 January, company sources said on Friday.
Currently, extrusion grade medium impact ABS in bulk has a domestic price range of 129-152 cents/lb.
The Switzerland-based INEOS ABS cited the continued rise in raw material costs as the reason for the increase.
Buyers had been expecting to see an increase proposal from US ABS producers because of the record-high prices of benzene, which is the feedstock for styrene.
The other producers have not announced a price increase.
ICIS assesses ABS prices as domestic prices, which are a hybrid of sorts of spot prices and contract prices. The price movement is not as fluid as spot prices might be and not as periodic as contract prices.
The last time ABS prices moved was in mid-June, when it dropped by 5 cents/lb.
ABS prices last moved up in early May – by 4-8 cents/lb – as the result of the success passage of some of the proposed price increases US producers had sought in April.
In its price increase letter, which is dated 30 November, the company stated it reserves the right to limit quantities ordered at the current pricing.
Other US producers of ABS include Network Polymers, SABIC Innovative Plastics, Styrolution and Styron.
($1 = €0.77)
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