Kuraray to raise prices for elastomers

Tokyo – Kuraray has announced price hikes for its thermoplastic elastomer products, citing rising feedstock and logistics costs.

The Japanese group will increase prices by $0.33/kg for its Septon and Hybrar elastomers globally, effective 1 June.

The price revision comes less than two months after another price hike which came into effect 16 April.

"In addition to soaring raw material prices for the products in question, various costs, including utility costs, logistics costs, and packaging materials, continue to rise," said Kuraray 15 May.

These, it said, exceed the scope of cost absorption through the group's own efforts.

"Under these circumstances, in order to improve profitability and continue supplying our products, we have decided to revise prices," it concluded.