German oxo chemicals producer OXEA Thursday said it will hike the prices for five of its carboxylic acids by up to $330/mt.
In a statement, OXEA said that isononanoic acid will rise by $0.15/lb ($330/mt) in the US, Canada and Latin America.
The prices of 2-ethylhexanoic acid, n-valeric acid, heptanoic acid and pelargonic acid will increase $0.10/lb ($220/mt).
Prices for European consumers will rise by Eur150/mt ($217/mt) with the exception of isononanoic acid which will increase by Eur100/mt.
The new prices take effect from July 1.
The company did not disclose plans for prices in other regions.
Carboxylic acids are used in synthetic lubricants, the production of safety glass, animal feed, siccatives, flavors and fragrances, and polymer-stabilizers, the company website said.
