BASF has hiked its prices for ethanolamines in Europe citing continuous demand increase.
Ethanolamines compounds are used in the pharmaceutical industry for the production of a wide range of active pharmaceutical ingredients (APIs), as well as being an important chemical in a number of other industries.
European manufacturer BASF has increased the price of Monoethanolamine (MEOA) and Triethanolamine (TEOA) by €20 ($27) per metric ton, whilst Diethanolamine (DEOA) – used as a pharmaceutical solvent - will increase by €50 per metric ton.
“The reason for the price increase is – among many other reasons - the continuous demand increase,” BASF spokesperson Klaus-Peter Rieser told in-Pharmatechnologist.com, though this was being driven by the agrochemical sector. Rieser would not comment on the market’s response to this price hike.
BASF pushed the price of ethanolamines up twice in 2011 and again in 2012 citing the cost of raw materials – ethylene and ammonia - as a major factor.
However, the last price hike came just days after the firm lobbied the European Commission to review its policy of allowing foreign ethanolamine producers to sell the compound in Europe at less than cost, in a process known as anti-dumping.
An extra 15 months was granted in reviewing regulation (EU) No 54/2010 of 19 January 2010 which imposed a definitive anti-dumping duty on imports of ethanolamines originating in the USA but, following an appeal by Michigan-based chemical firm Dow in May 2012 , the ruling was annulled.
This judgment was not appealed by BASF, EU Trade spokesperson John Clancy told this publication earlier this week. “Instead, implementing measures were undertaken and as a result the duties have been repealed in 2013 .” There is no ongoing investigation, Clancy confirmed.