TOKYO—Denka Co. Ltd. will raise prices for its styrene monomer products, effective July 1.
The Japanese supplier is increasing the price for the industrial chemicals by about 5 cents per kilogram (Yen 6/kg), Denka said in a May 31 news release.
The hike is due to the rising costs of operations related to the maintenance of equipment, the company said, adding it is "necessary to correct profitability" and to continue the stable supply of styrene monomer to the market.
"Business profits are deteriorating due to significant increases in costs," the company said. "Our effort alone cannot absorb all the increasing costs, although we are making the best effort to minimize them."
