COLUMBUS, Ohio, EAST COLLIERVILLE, Tenn., KANSAS CITY – Another round of price increases were announced in the resins industry this week with three companies reporting that they will bump up their fees next month.
The Composite Polymers business of Hexion Specialty Chemicals, Inc., will increase prices $0.03 per pound for all unsaturated polyester and vinyl ester resins effective for all products shipped on or after, June 19, the company said in a release. Hexion said intermediate chemical costs have been impacted by high oil prices, and that raw material costs and energy costs to operate its facilities and freight costs to deliver products have all been impacted.
AOC reported it will increase prices by US $0.03 per pound on all products sold in the U.S. and Canada shipped after June 16.
The company said energy prices continue to increase, driving feedstock and operational costs higher, and went on to report in its press release that the Energy Information Agency recently said it is very likely that current volatility in these markets will continue to have an impact on energy and feedstock prices for an extended period of time.
Cook Composites and Polymers said it would implement a $0.03 per pound price increase for its gel coat and unsaturated polyester resin products effective on all orders shipped on or after June 19.
Pricing for non-hazardous solvent-based industrial cleaners will increase by $0.10 per pound the same day. CCP said this change comes as a direct result of the recent spike in a primary component for these products, dibasic ester.
“There have been gradual increases in raw materials costs over the past few months that now necessitate a price increase,” said Paul Colonna, CCP’s vice president for Composites. “Materials primarily involved are phthalic acid, diethylene glycol, neopentyl glycol, and styrene. Ongoing increases in transportation, energy and packaging costs have also reached a level that can no longer be absorbed.”
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