Celanese Corporation CEwill raise the list and off-list selling prices of acetyl intermediate products. The price hike will be effective on or after Jun 1, 2018 or as contracts permit.
The company will raise the prices of Vinyl Acetate Ethylene by $150/MT in Mexico & South America and by €150/MT in Europe, Middle East & Africa.
Moreover, Acetic Acid prices will be hiked by €50/MT in Europe, Middle East & Africa and by $65/MT in Mexico & South America. Prices of the same will rise by 3 cents per pound in United States & Canada. In Europe, Middle East & Africa, prices of Ethyl Acetate will increase by €125/MT. Prices of the same will rise by $50/MT in Mexico &
South America and by 2 cents per pound in United States & Canada.
The company is taking appropriate pricing actions amid a volatile pricing environment for raw materials. Celanese’s strategic measures, including operational cost savings through productivity actions and pricing initiatives, are likely to provide an impetus to its earnings in 2018.
Celanese has outperformed the industryin a year’s time. While shares of the company have moved up around 31.4%, the industry saw a roughly 11.9% rise.