COLLIERVILLE, Tenn. - AOC, a global supplier of resins, gelcoats and other additives to the marine industry, will increase prices by US $0.04 per pound on all resin products sold in the U.S. and Canada shipped on or after April 18, the company reported in a release last week.
This latest price hike is in addition to all previously announced increases, the company said.
AOC said major increases for maleic anhydride, propylene glycol and dicyclopentadiene in January more than offset the decline in price seen for styrene and phthalic Anhydride.
Major increases for styrene also took place in February and March after benzene prices increased by more than $1.11 per gallon, or 42 percent, along with increases for ethylene glycol, phthalic anhydride and propylene glycol.
Further increases for April are anticipated due to price announcements for nearly every major raw material used to manufacture UPR. These increases are due to crude oil prices in excess of $50 per barrel, continued high natural gas prices and supply tightness due to demand that has most raw materials on sales control or allocation, the company said.
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