Chemturas Petroleum Additives business last week announced upcoming price increases for its natural fatty acid based lubricants and several antioxidant products used in lubricants.
The company said it will raise prices up to 20 percent, depending on the product, for its natural fatty acid based lubricants, effective Oct. 1.
A global supply and demand imbalance has resulted in an escalation of raw material costs required to manufacture lubricants, Philadelphia-based Chemtura stated in a news release. This increase is necessitated in order to ensure that we will be positioned to maintain sustained and reliable supply in the future.
Prices for Naugalube alkylated diphenylamine products (Naugalube 438L, 640, 680 and 750) will go up 50 cents per kilogram effective Sept. 15. This price increase is to compensate for cost increases, the company noted. According to Chemturas web site, the Naugalube antioxidants are used in mineral and synthetic base stocks that are typically employed in lubricant applications, such as high-performance transportation and industrial lubricants.
Chemtura will also raise prices 10 cents/kilogram effective Sept. 15 on its diphenylamine in all packages. DPA is widely used as an antioxidant in lubricants. This price increase is to compensate for continuous increases in raw material and manufacturing costs, the company said.
In each case, the price increases become effective via the announced date, or as contracts allow.