16 January 2014 22:28 [Source: ICIS news]
HOUSTON (ICIS)--Styron has announced a 4 cent/lb ($88/tonne) price increase for its acrylonitrile-butadiene-styrene (ABS) in the Americas, effective 3 February, according to a customer letter provided to ICIS on Thursday.
"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 the letter dated 7 January.
The company previously announced a 4 cent/lb price increase, effective 2 January. Sources said that initiative has been partially implemented.
While producers said the January increase went through as announced – at least partially in some cases – market participants said it is "very difficult right now" to tell how successful implementation was.
One buyer questioned how producers can raise their prices for January if SABIC did not announce an increase initiative.
Another buyer said it believes the increases will stick because spot benzene is trading much higher this week and supply is tight.
Before any increases, US extrusion medium impact ABS in bulk has a domestic price range of 132-155 cents/lb, as assessed by ICIS.
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