03 June 2013 22:07 [Source: ICIS news]
HOUSTON (ICIS)--Eastman Chemical nominated a price increase on US ethyl acetate (etac) by mid-June, sources said on Monday.
Eastman said it plans to seek an increase of 1.5 cents/lb ($33/tonne, €25/tonne), effective on 15 June. The company said increased demand and operating costs are the reasons it is seeking the hike. The company also cited increased costs of raw materials.
One distributor suggested that the company will likely be able to successfully implement the price hike.
Current ICIS rates of etac are at 80.00–86.00 cents/lb.
Major US producers of etac include Eastman and Celanese.
($1 = €0.77)
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