Songwon raises additives prices worldwide

Ulsan, South Korea -- Songwon Industrial is increasing prices of its polymer additives globally 7 to 20 percent, depending on the product, on May 1 or when contracts allow.

The company said the continuous and unprecedented escalation of raw materials prompted its decision, along with constraints on the availability of key intermediates and a change on the tax legislation in China, which is a key supplier of some of the critical materials.

The price changes range are 7 percent on Songnox phenolic antioxidants; 9 percent for the Songnox phosphite antioxidants; 9 percent for the Songnox thioester antioxidants; 6 percent for the Songlight and Songsorb UV stabilizers; between 10 percent and 20 percent for the Songstab acid scavengers, depending on the product; and 20 percent for the Songwon aminic antioxidants.

From Rubber & Plastics News (A Crain publication)