12 February 2013 21:06 [Source: ICIS news]
HOUSTON (ICIS)--Arkema will seek increases of 6 cents/lb ($132/tonne, €99/tonne), effective 1 March, for its domestic glacial acrylic acid (GAA) and acrylate esters, the chemical producer announced on Tuesday.
In its price letter, Arkema said the increases are “necessary as a result of the continued increase in raw material costs".
Dow has also announced a plan to raise its March acrylates prices by 5-7 cents/lb. No reason was cited, but feedstock propylene gains are exerting upward pressure on derivatives.
Except for feedstock, weak fundamentals including soft demand and ample supply have persisted within the US acrylates market. The US spring coating season has been delayed in part by severe weather, including a blizzard accompanied by hurricane-force winds across the northeast earlier this month.
Initial February acrylates gains were heard in a range as broad as 3-10 cents/lb, following January acrylates contract increases that averaged 2 cents/lb.
Current US acrylic acid is in a contract range of $1.12-1.16/lb, as assessed by ICIS.
US acrylates producers include Dow, Arkema and BASF.
($1 = €0.75)
For more on acrylates, visit the ICIS Plants & Projects database
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