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Dow announces more price increases

By David Reed, UT EditorMidland, Michigan-The Dow Chemical Co. has announced further price rises for polyurethane raw materials in the US and Canada. With effect from 1 Dec. the firm says it will increase prices for all pure and polymeric MDI products sold into all polyurethane market segments by $0.10/pound. This price increase is in addition to the benzene surcharge that Dow implemented on 9 Aug. which addressed “the volatile and unprecedented increase in benzene costs,” Dow explained in a 9 Nov. statement. This surcharge on MDI fluctuates monthly as the CMAI contract price of benzene moves; it amounts to a $0.005 cent per pound surcharge for every $0.10 per gallon increase in benzene over the base price of $1.50 per gallon. The firm will also boost prices for its polyether and copolymer polyols by $0.10/pound for all polyurethane market segments and end-use applications. These are sold under the firm’s Voranol, Voralux and Specflex tradenames.Continued strong demand for MDI and polyols has resulted in a global shortage of MDI products and very tight supply for polyols, Dow’s statement continued. Industry sources indicate that high demand growth and tight supply will persist into 2005, the statement concluded.”

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