10 July 2013 22:59 [Source: ICIS news]
HOUSTON (ICIS)--Doubt about the chances for recent price increases issued by US acrylic acid and acrylate esters producers gained more weight on Wednesday when a buyer acknowledged receiving a rollover of June prices from two producers.
Producers Dow, Arkema and BASF proposed hikes of 3-5 cents/lb ($66-110/tonne) for July based on rising manufacturing costs. Buyers have said feedstock price increases in propylene did not justify the proposals, citing ample supply and delayed seasonal demand.
A buyer on Wednesday who received rollovers from two producers described the hikes as a deception, “maybe just to keep the price from decreasing due to the soft market".
Said another buyer who had not finished negotiating: “I don’t see any way the producers get this increase.”
($1 = €0.78)
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