BASF and Oxea each increased prices for a variety of polyalcols used in producing lubricants, while Oxea also raised prices on several solvents.
Ludwigshafen, Germany-based BASF on March 25 said it will raise prices immediately, or as contracts allow, on neopentylglycol (NPG) and trimethylolpropane (TMP) by 10 euro cents per kilogram in Europe, Africa and the Middle East; by 5 cents per pound in the Americas; and by U.S. 5 cents/kg. in Asia Pacific.
The price adjustment is necessary due to increased cost, according to BASF.
BASF has NPG production facilities in Ludwigshafen in Germany, Freeport in Texas, and Jilin, China, with a total annual capacity of 165,000 metric tons. BASF has a TMP production facility at its Verbund site in Ludwigshafen, Germany, with an annual capacity of 20,000 metric tons.
Oberhausen, Germany-based Oxea on Thursday announced it will increase list and off-list prices effective April 1, or as contracts allow, on NPG and TMP by 5 cents/lb. in the Americas, by $110 per metric ton in Asia and by 85/mt in Europe.
Neopentylgylcol and trimethylolpropane are polyalcohols that are widely used in solvent-free coatings as well as in the production of polyurethanes, alkyd resins and synthetic lubricants.
Oxea also said that effective April 1, or as contracts allow, it would increase off-list prices on a variety of solvents – including butyl acetate, butanol, propyl acetate and propanol – by 30 to 50/mt in Europe.