15 April 2013 11:04 [Source: ICIS news]
LONDON (ICIS)--Chemical pricing in the US and Europe has remained strong through the first quarter of the year, although costs are rising for European specialty chemical producers, US financial analyst Bernstein Research said on Monday.
According to the firm, chemical prices increased sequentially in February and March this year, with gross margins increasing year on year in both regions.
Prices in the key end market of China fell by 0.3% month on month in March, the firm added, although Indian prices were flat, and prices in Russia increased by 1.3% over the same period.
Bernstein said that paints and coatings prices remained strong; with US sector prices rising 0.1% month on month and 2% year on year in March, while costs fell 2% year on year. Prices were up 0.4% month on month and 2% year on year in Europe.
Industrial gas prices declined in the US during March, falling 1.6% month on month, but increased by 0.7% in Europe over the same period.
March crop protection chemicals prices were stable to positive month on month in Europe and the US, while petrochemicals prices were up 1.3% month on month in the US and 0.1% month on month in Europe. However, US petrochemicals prices were down 7% year on year, while European prices were up 1%.
“When cost inflation resumes, petrochemicals producers such as BASF ... will see additional upside,” Bernstein added.
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