Tosoh raising chloroprene rubber prices

Tokyo – Tosoh Corp. is raising the prices for its chloroprene rubber products due to the rising cost of butadiene, the group announced 2 April.

Prices for all varieties of Skyprene-branded rubbers will increase by “Yen80/kg or more”, effective 1 May, said the Japanese supplier.

“Due to the supply concerns of crude oil and petroleum products stemming from Iran's blockade of the Strait of Hormuz, butadiene prices have soared,” explained Tosoh.

The group said it had “no choice but revise prices” as it was difficult to absorb rising costs through self-help efforts alone.

Tosoh went on to add that if raw material and energy costs “fluctuate significantly further” in the future, the group might request additional price revisions.