Price revision made amid a tight global balance of supply and demand
Tokyo –Denka Co. Ltd is to raise prices for its chloroprene rubber (CR) materials domestically, effective 21 Feb.
In a statement 1 Feb, the Japanese supplier said the price hike for 'Denka chloroprene' products will be “Yen55/kg (€0.42/kg) or more”.
The price revision, Denka said, is being made amid a tight global balance of supply and demand for chloroprene rubber, to a point that “we cannot meet the demand”.
In addition, Denka said the increase in manufacturing costs due to the rise in raw material and fuel prices were beyond its “self-help efforts”.
“For a stable supply of products and maintenance and continuation of business in general, we have decided that we have no choice but to revise the price,” the company added.
Denka had earlier raised prices for its CR materials for exports by over $500 or €450 per tonne on 4 Jan.
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