Reichhold Inc. announced a price increase of 6 cents a pound on all unsaturated polyester resins, vinylester resins and flame-retardant resins sold in North America for the composites industry.
This increase is effective for all orders shipped on or after March 15.
“Persistent escalation of raw material prices and a limited supply of some raw materials continue to increase our costs, leaving us no choice but to raise our prices. Raw material costs are expected to rise continually through the first quarter, primarily as the result of numerous planned outages and increased demand,” vice president of commercial North American composites Bill Schramm said in a statement.
“Crude oil continues to trade over $100 per barrel, and the cost spread between oil and natural gas continues to favor the latter, which yields less propylene available for conversion to many composites raw materials,” he added.
“We continue to aggressively work with our suppliers to mitigate these increases and appreciate the understanding of our customers as we continue to do everything possible to limit the impact of rising costs and limited raw material availability upon product pricing and supply.”