Reichhold will raise prices Jan. 1
RESEARCH TRIANGLE PARK, N.C. – Marine resins supplier and manufacturer Reichhold will increase its prices $ 0.05 per pound on all unsaturated polyester resins and $ 0.10 per pound for vinyl ester resins sold in the United States and Canada, effective for orders shipped on or after Jan. 1, the company said in a release yesterday.
The increases are in addition to the price hike that took effect Nov. 15.
“There has been a slight softening of recent crude oil prices; however, that has been more than off-set by the tight supply situation for key raw materials such as propylene glycol and maleic anhydride,” said Reichhold North American Director of Business Management, Composites, Bill Schramm. “Demand is outpacing supply and inventories have not been replenished significantly.
“Not only have the prices for glycols and maleic increased dramatically in recent weeks, many producers of unsaturated polyester resins are having a difficult time maintaining supply levels of these crucial products, further exacerbating the problem and driving prices up even higher,” he added.
For vinyl ester resin production, continued tight supply of bisphenol A and epoxy is driving the need for this increase. The escalating cost of feed stocks used in the production of bisphenol A and epoxy are key contributors to the increased cost of manufacturing vinyl ester resins, according to the company.
- For more of the latest news, click here.