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Celanese (CE) Set to Hike Prices of Acetyl Intermediates

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Celanese CorporationCE will raise the list and off-list selling prices of a few acetyl intermediates products. The price hike will be effective from Apr 1, 2018, or as contracts permit.

The company will increase the price of Acetic Acid and Vinyl Acetate Monomer by $150/MT in Turkey, Middle East & Africa and in Mexico & South America each. Prices of the same will rise by €150/MT and €100/MT, respectively, in Europe. In the United States & Canada, price of Acetic Acid will be hiked by 3 cents per lb while Vinyl Acetate Monomer's price will increase by 5 cents per lb.

The company is taking appropriate pricing actions amid a volatile raw material pricing environment. 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.

In the last six months, shares of the company have gained 4.4%, underperforming the industry 's 6.5% growth.

Celanese recently raised its earnings guidance for 2018, citing a stronger start to the year across its Acetyl Chain and Advanced Engineered Materials businesses. The company now envisions adjusted earnings per share growth in the 12-16% range from the prior-year quarter, up from its earlier view of 10-14% growth.

Celanese is witnessing better-than-expected performance in each of its businesses. The company's Acetyl Chain unit continues to build momentum globally, while improved pricing and strong demand trends in its Advanced Engineered Materials business are contributing to its earnings strength. Celanese plans to provide more details during first-quarter 2018 earnings call.

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Zacks Rank & Stocks to Consider

Celanese has a Zacks Rank #3 (Hold).

A few better-ranked stocks in the chemical space are LyondellBasell Industries N.V. LYB , The Chemours Company CC and Kronos Worldwide Inc. KRO , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here .

LyondellBasell has an expected long-term earnings growth rate of 9%. The company's shares have moved up 21.4% in a year.

Chemours has an expected long-term earnings growth rate of 15.5%. Its shares have moved up 42.1% in a year.

Kronos has an expected long-term earnings growth rate of 5%. Its shares have gained 54.8% over a year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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