Schiphol, The Netherlands -- Yantai Wanhua Polyurethanes Co. Ltd, which says it is the largest producer of MDI (methylene diphenyl diisocyanate) in Asia, is increasing its prices for MDI in both Europe and the Americas.
The company said this increase is "due to high raw material costs that have made margins unsustainable."
Wanhua Netherlands BV announced 8 March that it will increase the price of MDI by Euro 200/tonne. This increase, "applies to all polyurethane market segments and will be effective 1 April 2010," the company added.
From 1 April 2010, Yantai Wanhua America Co. Ltd will also increase prices for all MDI products by $0.08/pound. The price rise applies to all polyurethane market segments and end-use applications in North America.
Additionally, Yantai Wanhua America said it will increase the price of MDI in South America by $175/tonne from 1 April.