COLLIERVILLE, Tenn. – AOC, LLC is increasing its prices by $0.07 on all resins, gel coats, pigments, colorants and additives for the United States, Canada and export shipments for Latin America, effective for all shipments on and after Monday, April 7, the company reported in a recent statement.
“Crude oil (WTI) as traded on the NYMEX has reached a new milestone and is now trading in excess of $100 per barrel on a daily basis,” the company commented. “Even as the U.S. economy continues to decline, the U.S. demand for crude oil continues to increase. The increase in crude oil price is also exacerbated by the decline of the U.S. dollar, which will likely continue to decline as the Federal Reserve indicates further interest rate cuts.”
AOC also said natural gas costs are rising as consumption has increased and storage inventories have declined due to one of the coldest winters in recent times in the U.S.
“Critical feed stocks used to make the raw materials for unsaturated polyester resin have risen and the trend will continue as raw material increases lag crude oil and natural gas price changes,” the company added.
AOC reported that it’s committed to the principles of Six Sigma Lean and other strategies that help offset the rising costs of manufacturing unsaturated polyesters. The company said it continues to invest in the future of composites and cast polymers through end-use market development and new technologies for improving the customer’s competitiveness in the global marketplace.
AOC is a global supplier of resins, gel coats, colorants, additives and synergistic material systems for composites and cast polymers.