MOSCOW (MRC) -- With immediate effect, or as contract terms allow, BASF, the world's petrochemical major, will be increasing prices for all its Lupranat MDI (methylene diphenyl diisocyanate) basic products by EUR70 per metric ton and for its Lupranat TDI (toluene diisocyanate) basic products by EUR50 per metric ton in the EMEA region (Europe, Middle East and Africa), reported the company on its site.
This increase is driven by high raw material costs and a strong demand from major business segments.
As MRC wrote earlier, BASF has recently increased prices in Europe, Africa and Western Asia for HDI (hexamethylene di-isocyanate) and derivatives range (Basonat) by 3% to 5% with immediate effect or as contracts allow. The price increase was necessary due to the current market situation and the significant rise in the cost of raw materials. The products affected by the price increase are used mainly as raw materials in the coatings, printing and packaging industries.
BASF is the world’s leading chemical company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. BASF had sales of about EUR74 billion in 2013 and over 112,000 employees as of the end of the year.
MRC