Everberg, Belgium -- Huntsman Corp.'s polyurethanes division has increased the price of all its MDI products, MDI-based systems and polyol grades in Europe, the Gulf Corporation Council (GCC) and the Indian sub-continent, effective immediately.
The move comes into effect immediately, or as contracts allow. Prices in Europe will rise by a minimum of Euro 250 per ton, and in the GCC and Indian sub-continent by a minimum of $250 (Euro 183) per ton.
"This price increase is necessary to address the massive upwards shift of raw material costs for MDI and polyol products, mainly originating from record-high crude oil and derivatives pricing," said Nick Webster, vice president, Europe, Africa, Middle East and Indian Sub-Continent for the polyurethanes division of Huntsman.
The company noted in the 3 Feb statement that further increases may be advised.