Resin prices go up again
COLUMBUS, Ohio and RESEARCH TRIANGLE PARK, N.C. – Reichhold, Inc. and Hexion Specialty Chemicals are among the manufacturers reporting a price increase of $0.05 per pound on unsaturated polyester and vinyl ester resins sold in North America.
Reichhold said the price increase is effective for all orders shipped on or after May 25.
“Raw material costs have continued to escalate, driven by increases in feedstock prices and tightening of supply due to unplanned shutdowns of key raw material producers and global movement of materials to expanding markets,” said Al Naser, Reichhold vice president of sales, composites North America. “The demand for many of the feedstocks used to produce raw materials for unsaturated polyester and vinyl ester resins has increased due to demand in competing applications, such as the addition of benzene and mixed xylenes to boost the octane for gasoline. Reichhold can no longer afford to absorb the increases in raw material costs coupled with increases in the cost of energy and transportation.”
Naser added that the company is trying to limit the impact of the escalating costs on product pricing and “appreciates the understanding of its customers as we work through these challenging periods.”
The price increase reported by the Composite Polymers business of Hexion Specialty Chemicals, Inc. will be effective for all products shipped on/or after June 1, according to the company.
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