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BASF increases prices for ethanolamines in Europe

February 24/2012

(basf) -- German chemicals company BASF SE  is increasing the prices of ethanolamines in Europe by EUR70 to EUR90 a metric ton because of higher raw material costs, a spokesman said Wednesday.

The increase comes on top of a EUR60 a ton hike in January, and a EUR50 rise in December, bringing the total increase to EUR180-EUR200 a ton over the past three months.

BASF said Wednesday the price of monoethanolamine will rise by EUR70 a ton, and the prices for diethanolamine and triethanolamine by EUR90 a ton. "There are various reasons, but primarily the increase is due to higher raw material costs," the spokesman told Dow Jones Newswires.

The price hike will affect all new contracts in Europe. "The price increase will also apply to current supply agreements as soon as, and to the extent, permitted by their terms and conditions," BASF said in a statement. Ethanolamines are used in the manufacture of agrochemicals, wood protectants, cleaning products, process chemicals, lubricants and cement additives, as well as active pharmaceutical ingredients.

Author:Anna Larionova
Category:General News
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