HOUSTON (ICIS)--Wacker Polymers said on Tuesday it is increasing prices for some of its copolymer dispersions by up to 10% because of the rapid rise in acetic acid and vinyl acetate monomer (VAM) costs.
The global price hike by Wacker, effective 1 July, represents another reaction in the acetyls chain because of recent force majeures declared by two US producers.
In late April, BP declared force majeure on acetic acid because of an issue with a carbon monoxide supplier. A few weeks later Dow Chemical declared a global force majeure on VAM because BP is its main supplier of acetic acid, a major feedstock. Dow said the force majeure would last about two months.
Then in late May, US-based Monument Chemical declared force majeure on its acetate production.
Meanwhile, US acetic acid and VAM prices have been rising.
Eastman Chemical on Tuesday raised US acetic acid prices for the second time in June.
Eastman has issued two increases of 3 cents/lb ($66/tonne) to take effect in June, one on 1 June and the latest hike to take effect on 15 June, according to the company’s release.
US acetic acid export prices rose $70/tonne last week, and US VAM export prices also increased by $100/tonne.
Photo above by Mito Images/REX/Shutterstock