BASF has raised its prices for three ethanolamines (EOA), key intermediates in the production of a wide range of active pharmaceutical ingredients (API).
The German chemicals giant has increased the price of three key compounds monoethanolamine (MEOA), diethanolamine (DEOA) and triethanolamine (TEOA) by €50 ($65) per metric ton in Europe.
The chemicals – which BASF makes at plant in Ludwigshafen,Germany; Antwerp, Belgium; and Nanjing, China – have a variety of industrial applications in addition to drug production, including in agrochemicals, wood protectants, surfactants, lubricants and cement.
The firm last hiked the cost of its range of EOAs in January, when it upped the price of the three compounds by €100 per metric ton. BASF did not give a reason for the latest price increase.
The move follows just a few months after the firm increased what it charges for all active pharmaceutical ingredients (APIs) and drug and excipients by 10 per cent – the second such increase in a year .
On both previous occasions BASF said that rising raw material, energy and labour costs prompted the price increase.