(Alliance News) - Shin-Etsu Chemical Co Ltd said on Monday that it is going to increase the prices of all its silicone products, globally and in Japan.
The prices will increase by 10% on all products for shipments made starting in May.
The Tokyo-based chemical company explained that in the latter half of 2021, silicon metal, the main raw material of silicones, had faced a tightening of supply and demand. This, it continued, was due to electricity regulations in its main production area of China.
In addition, the price of raw material methanol remains high, the cost of energy has risen and logistics costs and prices of secondary materials are also growing.
As a result, the company said it had become "necessary" to revise its prices, with "unavoidable" increases.
Shares in Shin-Etsu rose 0.7% to JPY17,795.00 on Monday in Tokyo.
By Heather Rydings; heatherrydings@alliancenews.com
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