17 January 2014 16:25 [Source: ICIS news]
HOUSTON (ICIS)--BASF has announced a 10 cent/lb ($220/tonne) price increase for its caprolactam (capro) and nylon 6 polymer in North America, effective 1 February, according to a news release made available to ICIS on Friday.
"The price increase is necessitated due to developments in raw materials," the polyamide producer said.
The announcement makes BASF the second nylon 6 producer to seek a price hike, following Honeywell's increase initiative of 10 cents/lb, effective 20 January.
Some suppliers believe that the producers will be able to get some of the price increase initiative.
"In the last quarter of 2013, there was considerable downward pressure, and that's kind of let up," a source said.
Some buyers, however, said the chances of the producers successfully implementing an increase are slim.
"I don't think they'll get it, personally," one buyer said. "There's too much material and not strong enough demand."
Another buyer said that it does not see the initiative sticking and that it would not accept any increases.
Currently, the ICIS-assessed domestic price for nylon 6 injection moulding grade in bulk is $1.57-1.83/lb.
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