No end in sight to rising resin prices
Squeezed by high energy and hydrocarbon costs, chemical suppliers are implementing price hikes that threaten to rip...
Squeezed by high energy and hydrocarbon costs, chemical suppliers are implementing price hikes that threaten to ripple through the supply chain.
Dow Chemical Co. has announced it would raise polyethylene prices by seven cents a pound in July and eight cents a pound in August. Along with a five-cent boost in June, the increases total more than 30 per cent.
This hike reflects a June 24 announcement in which Dow said it will increase product prices by as much as 25 percent in July. This comes on the heels of earlier hikes of as much as 20 percent announced by the company on May 28.
In the past few weeks, DuPont has also increased prices on a number of its products, such as electronics materials, Kevlar and Nomex fibers, titanium dioxide pigment and several resins and polymers.
According to DuPont spokesman Anthony Farina, the company, which has increased its average selling prices for 17 consecutive quarters, looks to engineer products with added value in order to justify price increases. “When we increase our prices, we also have to help our customers increase the prices that they charge,” Farina said.
Additionally, Philadelphia-based Rohm & Haas Co. implemented a price surcharge on certain products in April to help pass on higher raw material and energy costs to customers. And BASF Corp. also announced price hikes June 24 for a range of styrenic copolymers and engineering plastics, effective July 1.
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