05 December 2013 23:05 [Source: ICIS news]
"This price increase is in response to the escalation in key raw materials used in the manufacturing process of ABS and is in addition to all previously announced increases," Styron said in a letter to customers.
US styrene prices are expected to rise, in line with the 38-39 cent/gal increase in the December contract price for feedstock benzene, as well as on news that Shell had declared force majeure on its styrene unit in Alberta, Canada.
Additionally, US butadiene (BD) contract prices rolled over in December after rising by 8 cents/lb in November. Also, rising US propylene prices may affect acrylonitrile (ACN).
"It's a bad time of [the] year to try to get an increase," one source said.
Still, some said the price increase could have a better chance of succeeding if other producers also nominated price increases.
Currently, US extrusion medium impact ABS in bulk has a domestic price range of 128-151 cents/lb, as assessed by ICIS.
($1 = €0.74)
Follow Tracy on Twitter
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections