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Chemical Firms in Japan Raise Polyethylene Prices By 17%
21 July 2008
Nikkei. Mitsubishi Chemical Corp., Mitsui Chemicals Inc. and Sumitomo Chemical Co. have raised the price of polyethylene, the most common synthetic resin, by 17% to levels not seen for the past 25 years. The price hike is blamed on soaring prices of naptha, a key raw material refined from crude oil.
Domestic synthetic resin prices are now at their highest level since 1983, when the market was dealing from the fallout of the second oil shock.
Meanwhile, the price of polypropylene, which is used in candy packaging and clothing storage products, was lifted around 37-40 yen per kilogram, or 18%. And polystyrene prices were raised 7-9%, or 15-20 yen per kilogram. The plastic is used in food containers.
July 21, 2008 in Brief | Permalink | Comments (3) | TrackBack (0)
Comments
Posted by: Billy C | July 21, 2008 at 01:07 PM
other feedstocks for other polymers are also increasing in price. Polycarbonates use natural gas for instance and this effects the price of creating cds/dvds/blu-ray disks.
We should try to not use these materials for short term packaging anyway. They are long term non degradable garbage that usually is impossible to reuse despite what the makers say.
Posted by: aym | July 21, 2008 at 04:01 PM
Looks like the oil cartels are cringing before the handwriting and trying to milk every last dollar from their soon-to-be extinct line of goods. They will go kicking and screaming and gouging YOU for the filthy lucre they worship.
Posted by: fakebreaker | July 21, 2008 at 09:05 PM
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Thankfully, my Polyethylene suits from the 1980's still fit! Dude!... They last forever! (Cue ZZ Top's Sharp Dressed Man here).