20 December 2013 23:36 [Source: ICIS news]
HOUSTON (ICIS)--Styrolution Americas announced on Friday that it will seek to raise the price of its acrylonitrile-butadiene-styrene (ABS) by 4 cents/lb ($88/tonne, €64/tonne), effective on 13 January.
Previously, INEOS ABS announced on 2 December that it was seeking a 4 cents/lb increase initiative, and Styron notified customers on 5 December that it would raise prices by 4 cents/lb.
In a customer letter dated 20 December, Styrolution said: "This price increase is necessary due to raw material price increases that we are experiencing at this time."
US styrene spot prices have risen on the back of stronger benzene prices and tight supply from production issues, while US butadiene (BD) spot prices are up on tight supply from low production and a lack of imports.
US acrylonitrile (ACN) prices remain low, but supply is tightening with Pemex/Unigel idling the Morelos plant in Mexico since November and with INEOS Nitriles announcing that it will reduce operating rates at its Green Lake plant in Texas to 50% of capacity.
ABS market participants said they will have a better idea if the increase initiatives will be successful after the Christmas holiday or new year.
Currently, US extrusion medium impact ABS in bulk has a domestic price range of 128-151 cents/lb, as assessed by ICIS.
($1 = €0.73)
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