The company is looking to hike prices on PA66 and PBT by as much as €800/mt in what seems to have become the norm in today’s markets.
LANXESS targets big price increases on engineering plastics in March in EMEA, according to a recent note on its website.
LANXESS justifies the increases by pointing to the recent higher “costs of raw materials, logistics and energy”.
Indeed, the factors that have been supporting polymer prices up until recently continue and have become worse.
LANXESS targets big price hikes for its nylon 6 (PA6), which will increase €500/mt for unreinforced grade, while reinforced will increase €400/mt.
At the same time, unreinforced nylon 66 (PA66) will increase €800/mt and reinforced €700/mt.
And unreinforced polybutylene terephthalate (PBT) will increase €800/mt and reinforced €700/mt.
While these increases are substantial compared to historical trends, they seem to have become the norm currently. In fact, PBT prices for some players have increased more than €1,000/mt in just the past few weeks.
The ongoing pandemic created many distortions along the value chain, which is resulting in shortages and higher prices, leaving many players under tremendous pressure.