From 2018, the market was characterised by low prices and cheap import. We had survived the first wave of the epidemic, the demand suddenly started. However, polymer deliveries were delayed due to a lack of containers. All this generated an actual shortage.
The monthly ICIS Petrochemical Index (IPEX) is recording a collapse in commodity petrochemical and polymer prices worldwide as economic and cost pressures for the sector mount.
At the beginning of last week, both “feedstock” and energy prices reached their highest levels in 10 years. The price of oil was 139 USD/barrel, NAPHTHA was 1,121.7 USD/t and the price of natural gas was 227.201 Euro/MWh.
The market is in turmoil. The escalating Russian-Ukrainian war is distracting from the deal. An unprecedented situation, market participants do not know how to react.
Evonik's High Performance Polymers Business Line announces a price increase for its Vestamid, Vestosint, Vestamelt, Vestodur, and Trogamid product lines effective April 1, 2022.
Towards the end of the year, the PVC industry is still confronted with the difficult supply situation and the ongoing price increases on the market. Force majeure statements continue. Prices for electricity and gas rise incredibly. The situation hits the whole plastics industry value chain hard.
Lanxess is raising its prices for inorganic pigments globally with immediate effect, subject to existing agreements. Quotations will be increased by EUR 150 minimum per metric ton or its equivalent in local currency.
Wacker is to raise prices for its entire silicones product range. The price increases vary between 10 and 20 percent and will be effective for material shipped from April onwards, as customer contracts allow.
Specialty chemicals group Lanxess is increasing prices for its engineering plastics with immediate effect or as contracts allow. The adjustment affects Europe, the Middle East and Africa. The increase for individual products of the brands is as follows
The expected boom in industrial production has fallen short. The low point of industrial production in April was followed by a slow increase in production in May.
The economic situation of the plastics industry did not change significantly compared to the previous week. Bigger changes are expected after Easter. Many people assume that some companies may not start up after the holidays.
Specialty chemicals company Lanxess is raising its prices for its engineering plastics of the brands Durethan A and Pocan.
