07 December 2012 16:28 [Source: ICIS news]
HOUSTON (ICIS)--US producer Ashland proposed on Friday a 3 cent/lb ($66/tonne, €51/tonne) price increase for maleic anhydride (MA), effective on 1 January or as contracts allow.
Ashland’s announcement joins two similar MA price nominations made by producers during the past week.
Huntsman announced a 4 cents/lb increase, also effective on 1 January, citing the cost of raw materials and fuel, as well as general costs associated with making and delivering MA.
LANXESS announced a 3 cent/lb increase, according to market sources.
ICIS currently assesses MA at 90.20-96.20 cents/lb.
The nominations came after the price of MA remained unchanged in November and December.
But producers had said that a recent incremental rise in the cost of primary feedstock normal butane (n-butane) might lead to a price increase.
At least one large buyer of MA has said that while the announcements were not unexpected, given the rise in the cost of butane.
Major US producers of MA include Huntsman, Ashland, LANXESS and Flint Hills Resources.
($1 = €0.77)
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