20 February 2013 10:30 [Source: ICIS news]
LONDON (ICIS)--Germany's LANXESS on Wednesday became the latest European nylon 6,6 producer to target high price rises.
The producer is targeting a price rise of €0.15/kg ($0.20/kg) on its Durethan A nylon 6,6 product line from 1 March, the company said.
This follows on from Solvay Polyamide and Intermediates announcement on 19 February that it will target price increases on its European Stabamid nylon 6,6 polymer range by 5% with immediate effect, or as contracts allow.
Other nylon 6,6 producers have been targeting February contract price rises of up to €0.15/kg.
Nylon 6,6 buyers, however, are targeting between a rollover and price decrease for February, arguing that the supply and demand picture is mixed, depending on end use and geographical region, and that small- and mid-sized automotive demand is too weak to justify a price increase.
Producers targeting significant price rises have cited the high cost of upstream benzene.
Nylon 6,6 can be produced either from adipic acid – which is downstream of benzene – or from adiponitrile via butadiene (BD).
Although the February benzene contract fell significantly compared with January, during the period from July 2011 to February 2013 benzene contract prices have increased by €286/tonne.
During the same period, BD contract prices have fallen substantially, dropping €1,135/tonne.
Between July 2011 and January 2013, nylon 6,6 virgin polymer contract prices have fallen by €0.20-0.32/kg.
($1 = €0.75)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections