Tokyo – Japanese chemicals company Kuraray has raised prices for its elastomer products for a third time in just over two months.
Kuraray announced 6 March that its elastomers business unit would raise prices of all styrenic copolymers Septon and Hybrar as well as polyurethane-based TU-Polymer elastomers by $0.50 per kilogram. ($0.23 per pound).
The price hikes will be effective 1 April and will include all regions.
The same materials were already expected to see a price rise as of $0.45/kg by 1 March, following an earlier rise on 1 Feb by $0.25/kg, as per a 26 Jan statement by Kuraray.
According to the company, rising feedstock prices during the course of 2016 and early 2017 have increased the costs to produce these speciality high performance materials.
“It is necessary to recover a portion of these increases to ensure ongoing supply and new product innovation,” the company added.