Send me real-time posts from this site at my email

Celanese to Increase Prices of Acetyl Intermediates in China

Celanese Corporation CE is set to hike the list and off-list selling prices for acetyl intermediate products — Acetic acid and Acetic Anhydride — in China.

The company will increase prices of acetic acid and acetic anhydride by RMB 600 per metric ton each. The price increase is applicable for orders shipped and is effective immediately or as contract permit. Also, the latest price hike is incremental to earlier announced price increases.

Celanese, which is among the prominent players in the chemical space along with PPG Industries, Inc. PPG, Air Products and Chemicals, Inc. APD and Eastman Chemical Company EMN, is undertaking price-increase initiatives in the wake of raw material cost inflation. The company’s strategic measures that include operational cost savings through productivity actions and price-hike initiatives are likely to provide an impetus to 2019 earnings.

Celanese, in April, backed adjusted earnings per share guidance of roughly $10.50 for 2019, considering that underlying fundamentals will start to improve later 2019.

The company does not expect improvement in demand in the second quarter. It anticipates second-quarter performance to be in line with first-quarter levels. Celanese will continue to invest in s businesses and further expand capability to boost growth and shareholders’ value.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Air Products and Chemicals, Inc. (APD): Free Stock Analysis Report
Eastman Chemical Company (EMN): Free Stock Analysis Report
Celanese Corporation (CE): Free Stock Analysis Report
PPG Industries, Inc. (PPG): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue