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Economics :: Prices
Albemarle Plans 15% FCC Price Hike
8:51 AM MDT | October 22, 2007 | Chemical Week Editorial Staff
Albemarle says it will raise prices of fluidized catalytic cracking (FCC) catalysts to a minimum of $3,100/m.t., effective January 1 or as contracts permit. The price hike, which represents a 15% increase from the current base selling price, could yield incremental profit for Albemarle of $42 million, approximately 33 cts/share, says Kevin McCarthy, analyst at Bank of America (New York). The price increase is likely to stick due to FCC catalysts’ “high value” for use in gasoline production, and because there are few other producers of the...
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