07 January 2013 23:31 [Source: ICIS news]
HOUSTON (ICIS)--A second US January acrylic acid and acrylate esters price-hike nomination was confirmed by market sources on Monday.
Producer BASF is seeking an increase of 6 cents/lb ($132/tonne, €101/tonne) for its 2-ethylhexyl acrylate (2-EHA) and 5 cents/lb for acrylic acid and its remaining esters.
US acrylic acid and acrylate esters market participants are also mulling previous 3 cent/lb price-hike proposals from Dow for all its acrylic monomers.
December contract values settled flat, and gains of only 1-2 cents/lb were achieved in November as buyers resisted full proposed increases of 6-8 cents/lb.
One producer cited rising raw material costs as its primary rationale for the proposed increases, and most buyers attributed the efforts to upstream pressure in view of lacklustre market conditions.
The propylene nominations included a 13 cent/lb increase from a chemical-grade propylene (CGP) producer and an 11.50 cent/lb increase from a producer of both CGP and polymer-grade propylene (PGP).
US acrylates producers include Dow Chemical, Arkema and BASF.
($1 = €0.76)
For more on acrylates, visit the ICIS Plants & Projects database
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