Index inches back up--slightly
By Staff -- Purchasing, 12/10/1998
Purchasing's index of industrial chemical prices inched back up in November after steady declines for the past six months, and a dramatic 8.49 drop between August and October. This month, the index was up 1.48 over October. Buyers are still able to get many cheap prices for chemicals--a benefit of the troubled world economic situation. But some chemicals increased in price, helping nudge the index higher.Among the price-tag increases, caustic soda (diaphragm grade) contracts grew from an average of $188/ton in October to $227/ton in November. Isopropanol grew 4(cent)/lb to 31(cent)/lb, and toluene was up 9(cent)/gal to 99(cent)/gal.
Despite the index increase, buyers are optimistic about low tags for the future. While they still forecast the index to climb in 1999, they now expect it to be at a much slower pace.
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