"The company re-evaluated its pricing on specialty polymer nylon products because of higher raw material costs," the US polyamide producer said in a news release.
One concern is the price of benzene, which drives the price of capro, a key feedstock for nylon 6 fibres.
US January benzene contracts had settled at an average increase of 35.5 cents/gal on the back of tight supply. Spot prices have firmed on continued short cover positions and a lack of supply availability.
"As for the nylon price, there does seem to be a lack of downward pressure, if not some upward movement," one source said. "I would say they’ll get some of [the announced price increase]."
However, one buyer said implementation will not be easy because nylon demand is weak.
Another buyer said it will not accept any price increases and does not see the initiative sticking.
Currently, the ICIS-assessed domestic price for nylon 6 injection moulding grade in bulk is $1.57-1.83/lb ($3,461-4,034/tonne).
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