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Stepan hikes APP prices

From Patrick Raleigh UT On-line news editorLondon-Stepan Europe has announced price increases of around 10 percent for its Stepanpol brand aromatic polyester polyols and warned of further possible increases in the fourth quarter. High volume polyol customers will pay Euro960-1000/tonne from July, with higher numbers for lower volumes or special grades, said a 13 July company announcement Stepan linked the increases to rising raw materials costs, particularly for diethylene glycol (DEG), which has gone up by 65 percent since January. DEG is half of the polyol molecule, the firm noted, adding that prices for orthoxylene-the other main component-have gone up 30 percent. Further increases in Q4 2004 may be necessary if DEG remains as tight as it is now, according to Stepan’s statement.”We simply have to pass some of this on in order to remain in business. It does not benefit our customers in the long term if we do not run a profitable business,” said Stepan. The latest increase, it added, should still only impact customers nozzle costs by 2-3 percent.”

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