FIne chemicals supplier BASF has upped the price of its Ethanolamines (EOAs), with monoethanolamine (MEOA), diethanolamine (DEOA) and triethanolamine (TEOA) all increasing by 55€ ($61) per metric tonne.
According to BASF spokeman Klaus-Peter Rieser, the "reason for the price increase is the consecutive increase of raw material prices and continuous demand increase."
EOAs are generated using ethylene and ammonia and are used to make a wide range of active pharmaceutical ingredients (APIs) by drugmakers, as well as being important chemicals in other industries.
Rieser was unable to disclose which APIs comprise of EOAs, but did tell us the price hike will "apply to current supply agreements as soon as and to the extent permitted by their terms and conditions."
Fourteen months ago, BASF pushed the price up €20/mt and over the past few years the cost of raw materials and continuous demand has driven a number of price increases for users of EOAs.