7 cents is a big increase. All our competitors have to do is undercut us by a penny. When customers sign contracts with our competitors we don't have a chance to get them back until those contracts run out.
Arkema proposes 6 cent/lb November hike for US acrylatesICIS News :
HOUSTON (ICIS)--A second US acrylic acid and acrylate esters producer has announced plans to raise November contract prices, leaving some buyers incredulous while others said on Tuesday that only small gains are likely, at best.
Arkema said it intends to increase the price of its acrylates by 6 cents/lb ($132/tonne, €102/tonne), effective on 1 November, but cited no rationale.
Dow Chemical previously announced plans to increase November pricing by 7 cents/lb, saying the increase was prompted by “expected volatility in raw material prices”.
“I expect these announcements to fall apart,” one buyer said, adding that there was no justification for the increases, given soft demand, plentiful supply and stable feedstock chemical-grade propylene (CGP) over the past few months.