MOSCOW (MRC) -- Celanese Corporation, a global chemical and specialty materials company, has announced it will raise prices of all acetate tow product grades sold globally, as per the company's press release.
Thus, prices for the stated above products will rise by USD0.40/kg or EUR0.34/kg.
This price increase will be effective for orders shipped on or after October 18, 2021, or as contracts otherwise allow.
“Over the past 18 months, the entire industry has been confronted with a great number of challenges which structurally impact all producers. New regulatory and legislative restrictions have increased the complexity of manufacturing and portfolio requirements, leading to high utilization rates; logistics complexities including equipment and operator availability have added cost and lead-time uncertainties; and major production costs have risen sharply in response to sector demand, conversions and availability,” said Harald Bruggeman, Vice President Commercial, Acetate Tow, for Celanese. “In order to continue to provide the supply chain security that our acetate tow customers value, it is necessary to increase prices to overcome the impact of these structural changes. Celanese’s commitment to the acetate tow business ensures that we will continue to invest in the necessary assets, innovation and effective services that our valued customers rely upon.”
We remind that, as MRC reported earlier, Celanese Corporation has recently announced a force majeure (FM) in China for vinyl acetate monomer (VAM) shipments from its plant Nanjing, China. Celanese has temporarily shut down its acetic anhydride and VAM production in Nanjing to comply with recent requirements of government departments in order to achieve dual energy consumption targets in the Jiangsu Province in 2021. Thus, its VAM plan with the capacity of 300,000 mt/year was shut on 17 September, 2021, and its was expected to resume operations in late September.
According to MRC's DataScope report, June EVA imports to Russia fell by 18,32% year on year to 2,400 tonnes from 2,940 tonnes a year earlier, and overall imports of this grade of ethylene copolymer into the Russian Federation rose in January-June 2021 by 26,19% year on year to 22,020 tonnes (17,450 tonnes in the first seven months of 2020).
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,700 employees worldwide and had 2020 net sales of USD5.7 billion.