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Recently, a number of leading chemical companies announced a price increase in their chemical products. Companies included BASF, LANXESS, Clariant, Hexion Inc, and Wanhua. Most of the changes will be effective at the beginning of this February or as existing contracts allow.
Price increases are mainly due to the increasing cost of raw materials. The highest rate of increase is 20%, for Macrolex and Ceres solvent dyes manufactured by LANXESS. Other industries will probably be affected by the rise in the chemical products as well. For instance, BASF’s action to increase the price of UV resins will impact the coatings, printing, and packaging industries who manufacture UV-curable coatings.
The chart below concludes the details of the price increases, including company name, product name, the rate of increase, effective date and effective region. Click each product name for further information.
Company name | Product name | Price | Effective date | Region |
BASF | Increased by 3 - 10%, depending on the product type | 23 Jan 2018, or as contracts allow | Europe, Middle East, and Africa | |
Increased by $0.15/lb | 15 January 2018, or as contracts allow. | North America | ||
CLARIANT
| Increased by 8%, depending on the grade, concentration and quality of the titanium dioxide, carbon black, pigments, dyes and additives | February 2018, or as contracts allow
| Global market | |
LANXESS | Increased by up to 20% | 2 Jan 2018 | Global market | |
Hexion Inc.
| increased by $0.20 per pound for off-list prices | 1 Feb 2018, or as contracts allow | North America | |
increased by $0.24 per pound for off-list prices | ||||
increased by $0.22 per pound for off-list prices | ||||
Wanhua | Listed price increased from 29000rmb/ton to 30000rmb/ton | February 2018 | China |
