09 September 2013 15:17 [Source: ICIS news]
LONDON (ICIS)--Spanish polymers producer Elix Polymers has announced an increase of €100/tonne on its Elix acrylonitrile-butadiene-styrene (ABS) products with effect from 15 September, the company said on Monday.
The company said: “Due [to] the additional raw material increases in September we are forced to increase our product prices”.
Buyers are still in discussion with suppliers for September business, but some buyers believe the increase in styrene caught producers a little by surprise.
European producers, particularly in the styrene acrylonitrile (SAN) market, face additional pressure on prices because of a widening gap between Asian suppliers. Asian prices for SAN have been flat in September, with no upward movement.
Elix Polymers’ price announcement comes a week after Switzerland-based ABS and SAN producer Styron announced a €90/tonne increase on both products.
ABS producers are targeting hikes in September because of higher raw materials costs and an expected increase in demand after the summer holiday period.
Elix Polymers' announcement also covers a €60/tonne on its 100 Series ABS products, and a €90/tonne increase on its 200 series SAN products.
($1 = €0.76)
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