The three major PS manufacturers collectively announced a rise, with a maximum rise of 2400

May 29, 2024, 11:58 AM

TDD-global

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Crude oil prices rise, impacting PS resin costs in Japan. Companies announce significant price hikes amid market volatility.

Crude oil has hit highs recently! The soaring rise in naphtha has led to a surge in chemical materials, and the purchase price of enterprises has continued to rise. The price increase letters of the three major PS plastic companies in Japan are in full swingâ€¦

Japan PS Co., Ltd.: Affected by the surge in crude oil and petrochemical materials, the company issued a price increase news saying that since May 20, the company's PS resin has risen by more than 47 yen/kg (about 2,453 yuan/ton).

Toyo PS Co., Ltd.: issued a price increase notice, announcing that from June 1st, PS resin and flame retardant PS resin will be increased by more than 46 yen/kg (about 2365 yuan/ton).

DIC Co., Ltd.: announced that from June 1, the company's GPPS, HIPS and other products will increase by more than 45 yen/kg (about 2349 yuan/ton).

The recent sharp rise in chemical raw materials and the continued high level of the chemical market are inseparable from the combined effect of multiple factors such as the domestic epidemic counterattack and overseas geopolitical conflicts. They are also inseparable from the tightening prices of upstream raw materials and the sharp drop in downstream orders. The relationship is also inseparable from the current continuous surge in commodity prices.

Up to now, the domestic epidemic prevention and control has achieved initial results. With the subsequent recovery of logistics and domestic demand, combined with the strong pull of subsequent infrastructure, it is expected that orders will be more likely to recover. As a key part of the manufacturing industry, the sub-sectors that were damaged in the early stage may usher in an opportunity to rise against the trend.

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