Price Surge: Coca-Cola, Mitsubishi Chemical Raise Prices Even During Off-Season

On November 9th, the settlement price for December 2023 futures of West Texas Intermediate (WTI) crude oil on the New York Mercantile Exchange was $75.74 per barrel, marking a $0.41 increase from the previous trading day, representing a 0.54% rise. The trading range for the day was $75.21 to $77.16 per barrel. Meanwhile, on the Intercontinental Exchange in London, the settlement price for January 2024 futures of Brent crude oil was $80.01 per barrel, showing a $0.47 increase from the previous trading day, indicating a 0.59% gain. The trading range for the day was $79.44 to $81.48 per barrel.

Major Surge: Coca-Cola, Mitsubishi Chemical Raise Prices Even During Off-Season!

Price Increase Notices During the Off-Season?

On November 2nd, Coca-Cola announced a global price increase for products such as polyvinyl alcohol (PVA) resin, effective from November 8th. The price hike in the Asia-Pacific region amounted to 1456 yuan per ton.

On November 2nd, Sekisui Chemical announced that starting from December 20th, the company would raise the prices of polyethylene pipe products it sells due to factors such as exchange rates, raw materials, market conditions, deterioration, and continuous high costs of raw materials and energy. The maximum increase was set at 20%.

On November 6th, Mitsubishi Chemical announced that it would raise the prices of its polyvinyl alcohol (PVA) product lineup starting from November 13th. The price adjustments included a 15 yen/kg (approximately 726 yuan/ton) increase for vinyl acetate monomer (VAM) and a maximum 40 yen/kg (approximately 1937 yuan/ton) increase for PVA and other resin products.

In recent developments, even during the off-season, major companies like Coca-Cola and Mitsubishi Chemical have issued price increase notices. Factors such as rising raw material costs, market conditions, and currency fluctuations have contributed to these decisions. The price hikes indicate the challenges faced by companies in sustaining profitability amidst cost pressures.