LONDON (GC Intelligence) — BASF, the German chemical company, announced that it will increase prices for its 1,4-Butanediol (BDO).
The increase of €100/mt will apply “with immediate effect” according to the company’s press note issued on 6 March.
The BDO market in Europe has been weak for some time, suffering from competitive imports and low demand, which drove down prices.
Prices reached very low levels recently, leaving importers, mainly from Asia, struggling to compete.
At the same time this has strengthened European sellers’ position.
Domestic sellers are certainly in a better position to recover margins in the next round of negotiations for Q2 business.
BDO is an intermediary product used in the manufacture of a number of products, including polyurethanes, spandex fibers, and polybutylene terephthalate (PBT).