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Lanxess announces price hike for engineering plastics on rising costs

March 10/2021

MOSCOW (MRC) -- Specialty chemicals company Lanxess has announced a price increase for engineering plastics in the EAME region with immediate effect or as contracts allow due to rising raw material, logistics, and energy costs, reported Chemweek.

The nominated rise in prices Уis unavoidable as the costs for raw materials, logistics, and energy have once again raised significantly and - for the most part - exceed the levels that existed prior to the outbreak of the COVID-19 pandemic,Ф it says.

Prices for its Durethan brands of unreinforced nylon-6,6 and nylon-6 will rise by EUR0.80/kilogram (USD0.95/kg) and EUR0.50/kg, respectively, while its reinforced nylon-6,6 and nylon-6 products prices are nominated to increase by EUR0.70/kg and EUR0.40/kg, respectively. Unreinforced and reinforced polybutylene terephthalate and blends will rise by EUR0.80/kg and EUR0.70/kg, it says.

The announced increases are in addition to price adjustments announced in December 2020, and higher adjustments may be necessary for individual materials, it adds.

As MRC informed earlier, Lanxess is also raising its prices for 1,6-hexanediol (HDO) globally with immediate effect. The increase amounts for EUR 800 per metric ton. HDO is an important precursor for high performance coatings, fibers, adhesives, polyurethanes, polycarbonate (PC) diols, and as reactive diluent for epoxy resins.

According to MRC's ScanPlast report, Russia's overall consumption of PC granules (excluding exports from Belarus) totalled 8,100 tonnes in January 2021, up by 20% year on year (6,800 tonnes a year earlier).

Lanxess is a leading specialty chemicals concern, which employs approximately 15,400 people in 33 countries. Currently, the concern includes 60 manufacturing enterprises. Lanxess core business is the development, production and marketing of chemical intermediates, additives, specialty chemicals and plastics. The concern is included in the lists of the world's leading sustainability indices: the Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.
Author:Margaret Volkova
Tags:Africa, Near East, Europe, PC, poliuretan, compounding, coatings, sheet extrusion, adhesives, poliamid, Lanxess, Polyamide PA66, Russia.
Category:General News
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