04 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European butac prices are assessed up €20-30/tonne this week following producers targeting October price hikes of €35-100/tonne ($48-137/tonne).
While the October contract price of feedstock propylene settled at a decrease of €40/tonne from September, butac producers were nevertheless keen to repair margins damaged by an inability to pass on increased feedstock costs of €110/tonne during August and September.
Some butac producers say they have achieved increases of €50-80/tonne.
“We definitely achieved an increase for October, €1080/tonne [is our] minimum,” one producer said. “Our cutomers understood [our need to increase prices]. It was an increase of €70-80/tonne.”
The previously long market is now deemed more balanced because of both maintenance upstream and improved demand.
However, distributors did not necesssarily agree.
“[Producers achieved] €10-20/tonne [increases],” a distributor said. “From my point of view, a rollover is expected. Demand is quite stable, not too much.”
Negotiations are ongoing for some participants.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections