12 December 2013 19:27 [Source: ICIS news]
HOUSTON (ICIS)--US-based Eastman Chemical is proposing global increases for its glycol ethers, effective on 1 January or as contracts allow − as an oxo-alcohols producer said on Thursday that it was considering its own price initiative because of an expected rise in feedstocks such as propylene.
Eastman is seeking an off-list price increase of 6 cents/lb ($132/tonne, €96/tonne) for ethylene glycol monobutyl ether (EB) and diethylene glycol monobutyl ether (DB); and 8 cents/lb for propylene glycol methyl ether (PM) and propylene glycol methyl ether acetate (PMA).
Eastman is implementing a 100% sales control for products, based on the orders for the past six months or as contracts allow.
The company stated that the increases are due to elevated operating costs, particularly in raw materials and energy. Eastman announced a price increase for upstream oxo-alcohols on 9 December.
Dow Chemical also announced on 10 December that it was seeking its own price increase of 6 cents/lb for EB and DB and 8 cents/lb for PM and PMA.
Last week, December propylene prices rose by 4 cents/lb while November ethylene prices settled last week up 2.8%.
($1 = €0.73)
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