HOUSTON (ICIS)--Bayer MaterialScience has announced an 8 cent/lb ($176/tonne) price increase for its polycarbonate (PC) resins in North America, effective on 3 March, according to a customer letter dated Monday.
"We continue to experience a sustained cost escalation of key raw materials used to manufacture Apec, Makrolon, Bayblend and Makroblend engineering thermoplastic resins," the producer said in the letter. "It is necessary for us to pass a portion of this increased cost on to you."
Bayer is seeking the 8 cent/lb increase for its Apec and Makrolon PC resins.
A 6 cent/lb will affect its Bayblend resins – which are PC blends with acrylonitrile-butadiene-styrene (ABS) or acrylonitrile-styrene-acrylate (ASA) – as well as its Makroblend resins – which are PC blends with polybutylene terephthalate (PBT) or polyethylene terephthalate (PET).
Buyers said the industry should know by mid-March whether those price increase initiatives actually took hold.
US benzene contract prices rose by an average increase of 38.5 cents/gal in December and 35.5 cents/gal in January. Spot prices reached record highs in mid-January, although they have softened a little since then.
Still, the US PC market remains flat amid typically slow demand for the first quarter and no major production issues, so participants are hesitant to weigh in on the success rate of implementation.
Currently, ICIS has assessed the spot price of bulk general purpose moulding grade PC at $1.60-1.92/lb.
Major US PC producers include Bayer MaterialScience, Styron and Sabic Innovative Plastics.
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