Lemfoerde, Germany - Major polyurethane raw materials supplier Elastogran is increasing its prices for methylene diphenyl diisocyanate (MDI) and toluene diisocyanate (TDI) basic products in Europe.
The price rises, which take effect straight away, are "related to the unsatisfactory growth in earnings of both basic products," said Elastogran, in its 18 May announcement.
"The significant raw material costs and the extreme reduction in prices forces us to implement considerable price increases," explained Dr Uwe Hartwig (pictured), managing director of Elastogran and group vice president regional business unit BASF Polyurethanes Europe.
"It is currently not clear whether further price adjustments will be needed," Elastogran continued.
Existing contractual agreements will be honoured, the company said.