Boston, Massachusetts – Cabot Corp. has announced a $.03 per pound price rise on all carbon black products sold by its reinforcement materials unit in North America.
Effective 1 Oct or as customer contracts allow, the increase is necessary to address the substantially increasing costs, according to the company.
The measure, it added, will help to ensure supply as the industry rebounds from the Covid-19 crisis and experiences rising utilisation rates, added the 13 Aug statement.
In particular, Cabot noted its investment of $200 million in NOx and SOx reduction projects to meet the requirements of US environmental regulations.
The company said it was on-track to meet upcoming industry deadlines in 2021 and 2022 for the reduction of emissions to air.
The new price increase, concluded Cabot, “will enable continued quality and supply security for Cabot’s customers and sustainability benefits for its employees, customers and communities.”