12 March 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--North American butanediol (BDO) market participants expect to start second quarter contract negotiations later this month, following recent price increases issued by suppliers, according to trade sources on Tuesday.
Buyer reaction to the Q2 price increases has been thin thus far, but some trade sources have said that BDO demand in the US is steady and has not improved enough to support price-increase ideas.
BASF said on 1 March that it will increase its North American BDO prices by 4 cents/lb ($88/tonne, €68/tonne), effective from 1 April.
Ashland followed with a BDO increase of their own hike on 8 March, announcing a 5 cent/lb increase.
The producers did not cite any reasons for the price increases.
Q1 BDO contracts were settled at 128-143 cents/lb DEL (delivered).
BDO is a chemical intermediate used in the production of polymers, solvents and fine chemicals.
Major North American BDO producers include BASF, Ashland and LyondellBasell.
($1 = €0.77)
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