Index falls to another low
By Staff -- Purchasing, 2/11/1999
Purchasing's index of industrial chemical prices has fallen again--down 2.28 points to 83.99. This puts the index 20.58 points lower than for the same period last year. This dramatic drop represents U.S. contract price declines for nearly all major commodity chemicals.Prices for chlorine dove $27/ton this month. Caustic soda (both rayon grade and diaphragm grade) were down by near 20% each. Acetone fell 4¢/lb. Toluene and methanol both saw sharp U.S. contract price declines, winding up at 55¢/lb and 27¢/lb respectively.
Buyers say prices are going to head up in 1999--but only slightly. Buyer forecasts say the index will inch up in the second quarter to 87.0. But increases will stall there, and hold for the remainder of the year.
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