TOKYO—Japanese synthetic rubber suppliers Showa Denko and Tosoh Corp. have announced new price increases on chloroprene rubber—adding to a spate of recent hikes in the cost of these materials.
Showa Denko announced Jan. 25 that it was increasing CR prices globally as of Feb. 16, in addition to a previous price change on Nov. 8 for European and Asian markets. The price rise, it said, was necessary to ensure the stable supply.
The price will be increased by $400 per metric ton (18 cents per pound) or more for US-dollar-based transactions, or by €360 per ton for euro-based transactions.
The rate of increase, the company said, may differ between areas and customers and will be subject to the terms of applicable contracts.
Due to rising key material costs, the current chloroprene rubber price did not fully reflect the increases in production costs and other business circumstances, explained the company.