Manufacturers hit by price increases
Footwear manufacturers are likely to have to tighten their belts further this New Year as chemical manufacturers have announced yet further price increases.
Following on from German producer Lanxess’ announcement last week that it was raising the price of its Basic chemicals by 5%, Huntsman and BASF have now followed suit, announcing that prices for certain of their products have also been raised in the USA and NAFTA region.
As a result of increased raw material costs, America’s Huntsman will increase prices in the NAFTA region for its Jeffol polyols and all polyurethane systems by $0.10 per pound, while Germany-based BASF will raise the price of all toluene diisocyanate (TDI) products by $0.20 per pound in North America. Both increases will take effect on February 1, or as contracts allow.
