13 August 2013 16:03 [Source: ICIS news]
HOUSTON (ICIS)--Momentive Specialty Chemicals remains ready to offset ongoing volatility in raw material costs through product price increases, the CEO of the US-based producer said on Tuesday.
“We continue to remain vigilant on the pricing front to effectively manage the raw material volatility,” Craig Morrison told analysts during Momentive’s 2013 Q2 earnings call.
“Raw material markets remain volatile, reflecting the global economy,” Morrison added.
Momentive’s raw material costs “generally moderated” during the second quarter, compared with the first, but they were higher on a year-over-year basis, he said.
During the first six months of 2013, Momentive saw a 9% year-on-year increase in phenol prices and 14% increase in methanol prices. However, urea prices fell 25% year on year, Morrison said.
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