Showa Denko to Raise Chloroprene Rubber Price
Showa Denko K.K.
August 20, 2021
Showa Denko (SDK) (TOKYO: 4004) has decided to increase its chloroprene rubber prices globally. The new prices will be effective from September 1, 2021.
We have avoided raising our chloroprene rubber prices for as long as possible, but we can no longer prolong the inevitable. The prices will be increased by US$520/m.t. or more for US-dollar-based transactions, or by €470/m.t. or more for euro-based transactions. The rate of price increase may differ between areas and customers while it will be subject to the terms of applicable contracts.
Due to rising key material costs, the current chloroprene rubber prices do not fully reflect increases in production costs and other business circumstances. Thus, SDK has concluded that it has no alternative but to raise prices in order to ensure the stable supply of chloroprene rubber and the continuation of its business while global demand is recovering and increasing rapidly.
For further information, contact:
CSR & Corporate Communication Office (Phone: 81-3-5470-3235)