Chemical and advanced materials maker
) has announced an increase in the selling prices of chemicals such
as ethyl acetate, methyl isobutyl carbinol (MIBC) and methyl
isobutyl ketone (MIBK) in North, Central and South America. Price
of ethyl acetate will increase by 3 cent per pound in the
U.S., Canada and Mexico, whereas it will increase by $70 per metric
ton in Central and South America.
Price of methyl isobutyl carbinol (MIBC) will increase by 5 cents
per pound in the U.S., Canada and Mexico and by $100 per
metric ton in Central and South America. Methyl isobutyl ketone
(MIBK) prices have been increased in the U.S., Canada and Mexico by
5 cents per pound and by $100 per metric ton in Central and South
America. Price hike for the above products is said to be effective
from Sep 1, 2014.
Recently, Celanese also increased the prices of polyvinyl Aaetate
(PVAc) homopolymer and vinyl ccetate ethylene (VAE) emulsions by
200 yuan per metric ton in China and $30 per metric ton in the rest
of Asia. This price rise is effective from today, or as contracts
Celanese posted better-than-expected second-quarter 2014 results on
Jul 17. The company saw its profits jump in the quarter on higher
margins across its Advanced Engineered Materials, Industrial
Specialties and Acetyl Intermediates segments.
Celanese will focus more on company-specific initiatives (including
innovation and productivity programs), which will help it to offset
expected headwinds associated with the expiry of a methanol
contract in mid-2015.
Celanese currently carries a Zacks Rank #2 (Buy).
Investors interested in the chemicals space can also consider
stocks like Minerals Technologies Inc. (
), Green Plains Inc. (
) and Johnson Matthey plc (
). While Minerals Technologies and Green Plains retain a Zacks Rank
#1 (Strong Buy), Johnson Matthey holds a Zacks Rank #2 (Buy).
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