COLOGNE—Lanxess A.G. is increasing its prices for Baypren, a brand of chloroprene rubber, up to $245 ($180 in euros) per metric ton globally.
The firm said increasing raw material and energy prices are the driving force behind the increase. Price increases went into effect on Nov. 15.
Baypren is used in applications such as cable sheathings, hoses, belts and air springs.