11 September 2007 17:46 [Source: ICIS news]
LONDON (ICIS news)--High oil prices, a shortage of raw materials and an increase in demand will push up plastic prices, the European trade body for plastics converters EuPC said on Tuesday.
“For the past two years, our manufacturers can’t rely on their orders of raw materials being executed,” said managing director Alexandre Dangis.
“No delivery due to declarations of force majeure by the raw material supplier occurs on a regular basis, while the partial delivery of 80-90% of the purchase orders for certain raw materials is a widely accepted fact of life,” he added.
There is escalating demand for oil and polymers and the fast growing plastics industries in ?xml:namespace>
"In a sector where raw materials account for 30-70% of the selling price, the influence of oil prices is high," he said.
Since December 2006, the prices of polymers and additives have reached record levels and users of plastics products should expect a further 15-20% increase in prices, Dangis added.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections