Degussa raise prices on China-made products

11 July 2007 04:42  [Source: ICIS news]

SINGAPORE (ICIS news)--Degussa Initiators, a unit of the German chemical major, said late on Monday it will raise prices on all peroxodisulfates produced in China after the local government cut subsidies on exports.

Prices on all peroxodisulfates will increase by 13% and that of organic peroxides will rise by 8%, it said in a statement.

This will affect all customers in Europe and the Middle East with immediate effect or as contracts allow, it added.

The price hike will offset a cut on value-added tax (VAT) refund for peroxodisulfates exports from 13% to 0% and from 13% to 5% for organic peroxides, it added.

Degussa is one of many chemical makers who have raised prices after China cut its export tax rebates.

Persulfates are used as initiators in radical polymerisation and health care, textile care, metal working and electronic applications. Organic peroxides are used in polymer manufacturing and polymer processing applications.

By: Florence Tan
+65 6780 4359

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