Mitsubishi Rayon to raise polypropylene filament yarns price from Nov 1
22 Oct '05
3 min read
Fibers and polyester fibers based textiles producer Mitsubishi Rayon Co Ltd has decided to raise the price of its polypropylene filament PYLEN, as detailed below.
1) Price raise: ¥30 per kilogram
2) The new prices will be effective from deliveries leaving the plants in November 1, 2005.
The production volume of PYLEN is the largest among polypropylene multifilament yarns in Japan. These yarns have recently been attracting considerable attention among industrial customers, principally for use in the manufacture of carpets and as industrial materials.
As polypropylene is an easily recyclable material which is therefore more environmentally friendly than some other rival materials, there are strong expectations of a growth in the market for polypropylene filament yarns.
The price of polypropylene resin – the immediate raw material from which PYLEN is made – was raised in April of 2005 owing to the high price of crude oil worldwide and the continuing high price of naphtha in the East Asian region – the result of a sharp rise in demand. The price of polypropylene resin is once again expected to be raised in October or soon thereafter.
In these circumstances, the Company has implemented a series of measures to reduce costs, but the most recent round of increases in raw material prices has exceeded their capacity to absorb through internal cost-cutting alone, forcing us to raise the price of PYLEN for the second time this year, following an initial price hike in January.
marketing@alchempro.com
