TOKYO, Jan 25, 2017 - (ACN Newswire) - Showa Denko ("SDK"; TSE:4004) has decided to increase its chloroprene rubber price globally. The new price will be effective from February 16, 2017. This increase is additional to our last price-change announcement on November 8, 2016 for European and Asian markets.
We have avoided raising our prices for as long as possible, but we can no longer prolong the inevitable. The price will be increased by US$400/m.t. (US$0.18/lb.) or more for US-dollar-based transactions, or by EUR 360/m.t. for euro-based transactions. The rate of increase may differ between areas and customers while will be subject to the terms of applicable contracts.
Due to rising key material costs, the current chloroprene rubber price does not fully reflect the increases in production costs and other business circumstances. Thus, SDK has concluded that it has no alternative but to raise price in order to ensure the stable supply of chloroprene rubber and the continuation of its business.
Public Relations Office
Topic: Press release summary
Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem
From the Asia Corporate News Network
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