Cytec Industries To Raise Prices For Chemical

WOODLAND PARK, N.J. (AP) -- Specialty chemicals maker Cytec Industries Inc. said Friday it will raise prices for its Aero Melamine, citing a tight global supply and improving demand.

Cytec said list prices of melamine, which is used in the production of plastics, will increase by 5 cents per pound effective July 1, or as contracts allow

Shares fell $2.18, or 5.1 percent, to $40.30 in afternoon trading amid a broader market sell-off. Shares have traded between $14.67 and $51.22 in the past year.

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