Celanese (CE) Hikes Prices of Acetyl Intermediates Products | Zacks.com

Celanese Corporation (CE – Free Report) is raising the list and off-list selling prices of acetyl intermediates products — Ethyl Acetate, MIBK and MIBC. The price hike is effective from Feb 1 or as contracts permit, and is incremental to any prior hikes announced by the company.

In USA & Canada and Mexico & South America, the company will hike the prices of Ethyl Acetate by 3 cents per pound and $70 per metric ton (MT), respectively. In North & South America, prices of MIBK will rise by 7 cents per pound. In Asia (including China), prices of MIBC will increase by $250 per MT while in North & South America prices will rise by 7 cents per pound.

Celanese is taking appropriate pricing actions amid a volatile raw material pricing environment. The company’s strategic measures including operational cost savings through productivity actions and pricing initiatives are likely to lend support to its earnings in 2018.

Celanese’s shares have moved up 10.4% over the last six months, underperforming the industry’s 18.3% growth.

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Celanese (CE) Hikes Prices of Acetyl Intermediates Products – February 2, 2018 – Zacks.com.

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