BASF announced an increase in prices for two types of carboxylic acids that are used as intermediates in lubricants and solvents, while Kraton Polymers said it would raise prices on SBS-based polymers and compounds in the North American market.
Ludwigshafen, Germany-based BASF on Thursday said that effective immediately, or as existing contracts permit, it will raise prices for 2-ethylhexanoic acid (2-EHA) and propionic acid in Europe by 40 (U.S. $60.86) per metric ton.
The company produces 2-EHA at its Verbund site in Ludwigshafen. It is a chemical intermediate for industrial applications, including lubricants.
The company produces propionic acid at its sites in Ludwigshafen, Germany and Nanjing, China. Its major application is feedgrain preservation. Propionic acid is also used in solvents, pharmaceuticals, crop protection agents, food preservatives and plastics.
Houston-based Kraton on Friday said that effective April 1, it will implement a general price increase of 10 cents per pound on SBS (styrene-butadiene-styrene block) based polymers and compounds in the North American market. SBS polymers can be used in lubricants and other applications ranging from personal care to paving.
According to Kraton, the company throughout 2007 experienced unprecedented cost increases associated with energy, raw materials, packaging and logistics costs.
Unfortunately, this trend has continued in the first quarter of 2008, Kraton said. Both crude oil and butadiene monomer are moving to new record price levels, while styrene monomer and other energy related costs are continuing to increase as well.