BASF targets immediate Europe price hike for ethanolamines

24 July 2014 13:00 Source:ICIS News

LONDON (ICIS)--BASF is targeting a €40-60/tonne price hike for its European ethanolamines with immediate effect, the German producer said on Thursday.

“With immediate effect, or as existing contracts permit, BASF is increasing its European sales prices for ethanolamines (EOA),” it said in a statement.

The target is to increase monoethanolamine (MEA) and triethanolamine (TEA) prices by €40/tonne, while for diethanolamine (DEA) the proposal is for a €60/tonne hike, BASF added.

Sources said this week that there is less supply of DEA than MEA and TEA because of healthier demand. 

Still, ethanolamines supply is comfortable in the region, with buyers having no problems sourcing extra material when needed. European sellers said they were exporting more material to the US where demand is good because of supply outages.

BASF produces EOA at its Verbund sites in Ludwigshafen, Germany; Antwerp, Belgium; and Nanjing, China.

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By Caroline Murray