15 January 2014 19:35 [Source: ICIS news]
HOUSTON (ICIS)--Eastman Chemical is seeking a 3 cent/lb ($66/tonne) increase on oxo-alcohols n-butanol (NBA), isobutanol (IBA) and 2-ethylhexanol (2-EH) for North America and Latin America, the company announced on Wednesday.
The price increases are to go into effect on 1 February or as contracts allow. Eastman cited elevated operating costs, particularly in raw materials, as the reason for the price increase.
In December, Eastman announced two price increases for January, a 3 cent/lb increase for NBA, IBA and 2-EH, effective on 1 January; and a 5 cent/lb increase on the same products, effective on 15 January. Eastman did not specify if the newest price announcement was in addition to its January increases or instead of them.
Other oxo-alcohol producers have announced separate price initiatives this week, including 3 cent/lb increases on IBA, NBA and 2-EH from Dow Chemical and 3 cent/lb increases on IBA and NBA from Oxea.
ICIS-assessed contract prices are 88-95 cents/lb for NBA, 125-130 cents/lb for IBA and 100-102 cents/lb for 2-EH.
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