Tokyo – Japanese chemicals producer Kuraray will increase the prices of its elastomer-related products starting 1 August, the company has announced.
Kuraray cited rising market prices and the increasing cost of principal raw materials in elastomer-related products for the price hike.
“Increases in expenses are in excess of the company's ability to compensate with independent cost-absorption efforts, causing rapid deterioration in earnings from elastomer-related products,” it added.
The scope of the price revision applies to Septon and Hybrar hydrogenated styrene thermoplastic elastomers; TU polymer - a block copolymer consisting of hydrogenated styrene block copolymer and thermoplastic polyurethane; liquid rubber; trans-polyisoprene rubber and Isobam isobutylene water-soluble resin.
The price hike are intended to “maintain a steady supply and new product innovation”, added Kuraray.
The prices will increase ¥30/kg (€0.22) for shipments in Japan and $0.25/kg (€0.22) for overseas shipments.
Earlier in June, German speciality chemical producer Lanxess also announced prices increases for several synthetic rubbers in Europe, Middle East and Africa.
The per-tonne increases were for customers of its EPDM grades, €100; NBR grades, €90; and chloroprene grades, €100.