Japanese chemical products welcome a new round of price increases

A few days ago, many Japanese chemical companies have announced a new round of price increases for their chemical products, with a price increase of about 6%, which will be implemented on October 1. The price increase is mainly in response to rising raw material prices.
　
Mitsubishi Chemical's synthetic resin manufacturer said that from October 1st, it will increase the price of all polypropylene and polyethylene products by 13 yen per kilogram. The price of domestic naphtha, which is a product price indicator, is expected to rise to more than 34,000 yen per kiloliter in October to December. In March, the spot price of naphtha plummeted due to the epidemic. In April, the price per ton fell below US$200 and then rebounded. The current trading price is about US$400. From April to June, the price of Japanese domestic naphtha is 25,000 yen (about 235 US dollars), and from July to September, it is expected to reach about 30,000 yen (about 280 US dollars).

Three companies, Toyo Styrene, PS Japan and DIC, said they will increase the price of synthetic resin polystyrene from October 1. The price increase of the three companies this time exceeded 10 yen per kilogram. DIC's price increase targets are polystyrene and styrene series products, including DIC styrene GPPS, multi-branched polystyrene, DIC styrene HIPS and styrene-based products, and the price increase exceeds 10 yen/kg. Toyo Styrene's price increases are targeted for polystyrene resin and polystyrene flame-retardant resin (Toyo Styryl Alcohol). The prices of GP, HI, and flame retardant products have all increased by more than 10 yen/kg.