TOKYO—Tosoh Corp. is increasing the prices of its chloroprene rubber products, effective May 20.
The price revision will cover all grades of Skyprene-branded rubber, including sulfur-modified grades, which will see a $0.36/kg or more (Yen 57/kg) increase, the Japan-based supplier said April 23. The group will increase the prices of other grades by about $0.30/kg or more.
Tosoh said it has been implementing various measures for some time to reduce costs, save labor, and increase the efficiency of logistics, but "increases in raw material prices, fixed costs, and logistics costs due to soaring prices have far exceeded the limits of our own efforts."
The price increase, according to Tosoh, will help continue the business and maintain a stable supply in Japan.
