05 March 2013 22:36 [Source: ICIS news]
HOUSTON (ICIS)--BASF will increase its North American butanediol (BDO) prices by 4 cents/lb ($88/tonne, €68/tonne), effective 1 April, according to its website on Tuesday.
BASF did not stay why it was increasing prices, but trade sources said raw materials were moving up, and crude oil prices were putting pressure on margins.
Buyer reaction was not available on Tuesday.
The company said back on 1 March that it would increase its list and off-list prices for BDO and BDO derivatives gamma-butyrolactone (GBL) and N-methylpyrrolidone (NMP) by 4 cents/lb.
BASF added that its list and off-list prices for tetrahydrofuran (THF) and polytetramethylene ether glycol (PolyTHF) would increase by 6 cents/lb.
BASF is the first BDO supplier to announce a price increase for Q2 contracts.
Additional price increases from other supplies are expected to emerge later this week.
Q1 BDO contracts were settled at 128-143 cents/lb DEL (delivered).
Major North American BDO producers include BASF, Ashland and LyondellBasell.
($1 = €0.77)
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