BOSTON—Cabot Corp. is increasing prices by 7 cents per pound on all carbon black products in its reinforcement materials segment sold in the North America region.
The increase is effective for all shipments made on or after Aug. 1, or as customer contracts allow, the company said in a news release. Cabot said the increase is necessary to ensure continued supply reliability at a time of increasing demand from tire production in the region.
Additional factors, it said, are the "substantial investments and significant new costs" to reduce air emissions and enhance the sustainability of Cabot's operations in the region.
Cabot is also updating the standard commercial policies for its Reinforcement Materials segment in North America, including changes to standard packaging, transportation, and warehousing premiums.