Hexion Raising Prices
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|Hexion hikes intermediates prices|
|MOSCOW (MRC) — Hexion (Columbus, Ohio) says it will raise its prices worldwide by USD150/metric ton or EUR125/metric ton for its various glycidyl and vinyl esters, monomers, and versatic acid brands shipped on or after 8 November, or as contract terms allow, reported Chemweek with reference to the company’s statement.|
The price hike has been driven primarily by continued increases in key raw material costs, it says. All other terms and conditions of sale remain unchanged, it adds.
As MRC informed earlier, Hexion, a major American manufacturer of phenol and bisphenol A (BPA), plans to close its BPA plant in Pernis (Pernis, The Netherlands) in early October for scheduled maintenance. This 120 ktpa BPA production facility will be shut in the second week of October and is expected to resume production in three weeks.
Bisphenol A is used as a hardener in the production of plastics, as well as plastic-based products. It is one of the key monomers in the production of epoxy resins and polycarbonate (PC).
According to MRC’s ScanPlast, in Russia, following the results of the first two quarters, the total estimated consumption of PC granulate in the Russian Federation (excluding imports and exports to Belarus) amounted to 47.3 thousand tonnes against 40.7 thousand tonnes in 2019. Total demand increased by 16%.
Hexion Inc., formerly Momentive Specialty Chemicals Inc., is a chemical company based in Columbus, Ohio. It manufactures thermosetting resins and related technologies and specialty products. Hexion has two divisions: the epoxy, phenolic and coating resins division and the forest products division.