Opening Glance: Chemical companies decline

Citi's P.J. Juvekar said energy costs are hurting every aspect of the industry, from raw materials to freight and shipping.

Juvekar said Dow Chemical Co. has set the precedent for raising prices, and expects its initial 20 percent price increase to eventually work its way through the system.

"Most other companies, at least in the U.S., have followed Dow's lead," Juvekar wrote in a client note.

How shares of major chemical companies fared Tuesday:

DuPont Co., down 62 cents to $42.24.

Dow Chemical Co., down 3 cents to $34.88.

Celanese Corp., down 64 cents to $45.02.

Eastman Chemical Co., down $1 to $67.86.