A Large Wave of Price Increase Letter in July Took Effect! Import Costs Soared

A Large Wave of Price Increase Letter in July Took Effect! Import Costs Soared!

Introduction：July plastic market soared! PA and other products soared 3680 Yuan / ton, PS rose 920 Yuan / ton, PVC rose 800 Yuan / ton, ABS prices firm! Sea freight rates rose extensively, import costs soared 14,500 Yuan! Chemical giants of the transfer can become a fuse to ignite the market in July?

July surge! PA, PS, PVC and so on!

The highest soared 3680 Yuan / ton

At the beginning of July, a large wave of price increase letter began to take effect!!!!

• PS Co., Ltd: July 1 shipments began when all grades of its PS products price increases, price increases of more than 19 Yuan per kilogram (about RMB 876 Yuan / ton).

• Toyo Styrenics: polystyrene resin "Toyostyles" from July 1 delivery start price increases. Involved products are GPPS, HIPS, flame retardant PS products, special grade products, the above products are based on the existing price increase of 19 Yuan / kg (about RMB 876 / ton).

• Japan's leading plastics company DIC: July 1 on the company's polystyrene ( PS ) products and styrene products price increases. The object product involves GPPS, HIPS, etc., the increase is 20 Yuan / kg (about RMB 923 / ton).

  
  

In addition to pigment products, inorganic pigments (bismuth pigment firing pigments), some HPP pigments, aluminum pigments, phthalocyanine pigments and processed pigments, etc. Price increases of 5-15% (some exceptions), effective from July 1 shipments.

• Tokuyama: Price increase for the company's PVC products, including general-purpose vinyl chloride and pasty vinyl chloride, effective from July 1, with a price increase of more than 18 Yuan/kg (about RMB819/ton).

• Taiyo Vinyl Chloride: from July 1 to its vinyl chloride resin products price increase of more than 17 Yuan/kg.

• Nippon Toray Co., Ltd: has issued a price increase notice that it will sell to various fields of the apparel industry nylon 6 silk (long fiber)-cotton (staple fiber), nylon 66 silk (long fiber)-cotton (staple fiber), nylon BCF system (long fiber), polyester long fibers, polyester staple fibers, polyester long-fiber nonwoven ( aster ), polypropylene long-fiber nonwoven, acrylic staple fibers, and other products from the price revision (price increase) will be implemented from the portion that will be listed in July 2024, and the rate of increase will range from 20~80 Yuan/kg (about RMB 921~3683/ton).

• Como: Starting from July 1, the purchase of all grades of Ti-Pure™ titanium dioxide in the Asia Pacific region will be increased by US$100 per ton.

• Connoisseur: Starting July 1, titanium dioxide will increase by €180/$200 per ton for all titanium dioxide products sold in Turkey, the Middle East, Africa and Asia.

• Pannento Venator: from July 1, the Asia-Pacific region, titanium dioxide products, price increases of $ 100 per ton.

• Mitsubishi Engineering Plastics: the company's polycarbonate (PC) resin "EPIN", "NOX" of all goods from July 20 shipments began to raise prices. Price increase of more than 40 Yuan / kg (about 1837 Yuan / ton).

• Japan Tosoh company: all its paste vinyl chloride resin products price increase of more than 17 Yuan / kg (about RMB 773 / ton), price adjustment will start from July 16 delivery.

In addition, affected by the escalation of the situation in the Red Sea, the related shipping prices continue to soar. Recently, Maersk, MSC, Duffy and other head shipping companies once again released the tariff adjustment notices of several routes one after another, and will implement the new Euroland and U.S. routes rates at the beginning of July.

MSC Mediterranean Shipping released an announcement that effective from July 1, 2024 but not exceeding July 14, 2024, the new FAK rates from all Asian ports (including Japan, South Korea and Southeast Asia) to Europe will rise to a maximum of $9,800 USD. The highest has more than doubled compared to the previously released May FAK for Northern Europe.

There is also news that MSC has also pushed ahead of the U.S. East Route tariffs significantly adjusted, plans to raise tariffs by $2,000 (about $14,500) per large box from July 1. If successful, tariffs will break through $10,000, reaching $10,400.

Just started the third quarter, the domestic plastic market there are still many uncertainties, plastic enterprises are in urgent need of a sound wave of price increases to pull the market upward! Whether the price increase letter of the above chemical enterprise giants can become a fuse to ignite the market in July, let's wait and see~