TOKYO—Denka Co. Ltd. is raising prices for its chloroprene rubber materials by over $500 per metric ton, effective May 10, the company said in a news release.
The price revision for Denka chloroprene products reflects rises in the cost of producing and supplying the materials as well as the current supply/demand balance, the company said April 6.
"We are facing difficulty of continuous and huge cost-increase in our production such as raw materials and utility," Denka said.
"Our effort alone cannot absorb all the increasing costs, although we are making the best effort to minimize it," it added, noting the global CR demand is "increasing continuously and significantly."
"It is impossible to cover all demand even from our existing customers," Denka said. "Hence we decided to increase its selling price in order to maintain the stable supply and business continuity."