TOKYO—Denka Co. Ltd. will increase prices for its chloroprene rubber materials by more than $500 per metric ton, effective Sept. 1.
The increase on Denka Chloroprene and Denka Neoprene branded products is in response to cost rising production costs and the current supply and demand balance, the company told European Rubber Journal.
"We are facing difficulty of continuous and huge cost increase in our production such as raw materials and utility," it stated. "Our effort alone cannot absorb all the increasing costs, although we are making the best effort to minimize it."
Moreover, said Denka, the global demand for chloroprene rubber "has been increasing continuously and significantly, making it impossible to cover all demand even from our existing customers."