14 May 2013 15:34 [Source: ICIS news]
HOUSTON (ICIS)--Momentive Specialty Chemicals expects its raw material costs to remain volatile throughout 2013, the CEO of the US-based producer said on Tuesday.
"We anticipate continued raw material volatility in 2013 as global markets remain mixed, and we will remain vigilant in our approach to take any appropriate pricing action," Craig Morrison told analysts during Momentive’s 2013 first-quarter results conference call.
In the first quarter, Momentive saw a general increase in raw material costs, compared with the 2012 fourth quarter, because of tight feedstock supply, Morrison said.
Compared with the 2012 first quarter, Momentive saw phenol and methanol prices up 12% and 11% year on year, respectively, while propylene increased by 1%. However, urea was down 5% year on year, Morrison said.
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