US aromatic solvent price hikes sought for March
26 February 2008 22:55 [Source: ICIS news]
HOUSTON (ICIS news)--Two separate US aromatic solvents price hikes of 2 cents/lb and 3 cents/lb are scheduled for early-March, a producer said on Tuesday.
One producer announced a price hike of 2 cents/lb ($44/tonne or €29/tonne) on xylene, toluene, Aromatic 100 and Aromatic 150, effective on 5 March.
The other producer scheduled a 6 March price hike of 3 cents/lb ($66/tonne or €44/tonne) on xylene, Aromatic 100 and Aromatic 150.
Current toluene prices were 49-55 cents/lb, and xylene prices were 50-55.50 cents/lb, according to global chemical market information service ICIS pricing.
A buyer that resells aromatic solvents said the increases were likely to go through on climbing production costs and an expected increase in demand from fuel blenders in March.
One of the producers said high energy prices, particularly the recent run in crude oil futures prices, had narrowed margins and made the proposed price hikes necessary.
US aromatic solvent producers include Citgo, ExxonMobil, Flint Hills Resources, Sunoco and Total.
($1 = €0.67)
For more on aromatic solvents visit ICIS chemical intelligence
ICIS Copyright © Reed Business Information 2009
Author: Gene Lockard1 713 525 2653
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