BASF, Arizona Chemical and Eastman Chemical each raised prices on lube-related chemical products, citing factors such as rising raw material costs and strong market demand.
On Friday, BASF said it will increase sales prices globally for all coolants, brake fluids and specialty fluids by up to U.S. $530 per metric ton effective immediately, or as contracts allow. The price adjustments are necessary due to significantly increased raw material costs, stated BASF of Ludwigshafen, Germany.
Arizona Chemical B.V. plans to raise product prices in Europe by 150 (U.S. $202) per metric ton on distilled oil and fatty acid esters, and by 150/t for tall oil fatty acids effective Oct. 1. These increases are driven by continued strong market demand, the Almere, Netherlands-based company, told customers.
Eastman Chemical Co. will hike prices for neopentylglycol by 3 cents per pound (7 cents per kilogram) in North America and Latin America, by 15 cents/kg in Asia Pacific, and by 50 (U.S. $67) per metric ton in Europe, the Middle East and Africa effective Oct. 1, or as contracts allow. This price increase is necessary to support continued investment in reliable supply, stated Eastman, of Kingsport, Tenn.
Neopentylglycol is used to manufacture diester resins used in the production of synthetic lubricants.