Boston, Massachusetts – Cabot Corp is increasing prices globally on all carbon black products in its reinforcement materials segment as of 1 Sept, the company announced on 30 July.
Explaining the rise in costs, Cabot said its costs have typically tracked oil-derived feedstocks indices over time.
“However, the actual costs of carbon black feedstocks relative to fuel oil indices have been rising. This widening difference between the indices and actual costs has persisted since early this year, and is forecasted to continue into the future,” the company stated.
The firm said it had also experienced extreme currency volatility in Brazil. According to the firm, the Brazilian real has depreciated more than 33 percent against the US dollar, which requires larger increases for products sold in the South America region.