European ethanolamine producers and consumers present differing views on the success of price increases in August, sources said on 20 August.
The attempted price increases come against the backdrop of European market leader BASF’s announcement in July stating they were increasing the price of monoethanolamine (MEA) and triethanolamine (TEA) by €40/tonne and diethanolamine (DEA) by €60/tonne.
“We stick to these agreements. We have announced price increases – there is no choice,” said a company source.
Other producers have also attempted to follow the price increases. “We have already received these price increases. They are completed. Customers are buying still,” said another producer.
However, the price increases are by no means universal, with another producer saying it sees no upward pressure. “There is no particular change,” said a third producer.
In addition, buyers and distributors seem to have fought hard against the increases.
“They are trying to increase but not able to increase prices… A supplier from Europe, who announced a price increase, has offered us product at a deep discount,” said a buyer.
“The market is not strong enough, there is no reason to ask for an increase,” said a second buyer.
One distributor mentioned waiting until September, when all participants would be back to see if any increases would stick.