Japan’s AGIC ups PIA prices by about 10%

04 July 2008 04:10  [Source: ICIS news]

SINGAPORE (ICIS news)--Japan’s AG International Chemical (AGIC), a subsidiary of Mitsubishi Gas Chemical, said on Friday that it had decided to raise the price of its purified isophthalic acid (PIA) by around 10% from July due to high feedstock values.

 

One of three IPA producers in Asia, AGIC said prices will be increased by $200/tonne (€128/tonne).

 

“The price of isomer mixed xylene exceeded its historical highest range in June 2008. Moreover, cost of other raw materials, utilities and logistics continue to rise,” AGIC said adding that the PIA price hike was essential.

 

The company added that it would continuously adjust production in accordance with demand although its total PIA capacity has been increased by 100,000 tonnes/year to 230,000 tonnes/year.

 

($1 = € 0.64)

 

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Author: Abdul Hadhi
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