Sumitomo Chemical : Price Increase for SUMIKASUPER LCP
August 11, 2021 at 11:02 am EDT
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Sumitomo Chemical will increase prices for its liquid crystal polymer (LCP), which is a super engineering plastic, as detailed below.
Product Amount of Price Increase Effective Date
All compound grades of SUMIKASUPER LCP
US$0.8/kg
Effective for shipments made on or after September 1, 2021
Raw material prices for LCP have been rising since last year, and are expected to remain high. In addition, our logistics costs have been increasing due to shortages in truck drivers in Japan and global disruptions in marine transportation.
These significant cost increases cannot be absorbed internally and make the current price increase unavoidable for the Company to maintain a stable supply to its customers.
Sumitomo Chemical Co Ltd is one of the Japanese largest chemical groups. The group is also manufacturing and marketing pharmaceutical products. Net sales break down by family of products as follows:
- petrochemical and plastic products (25.8%): ethylene, polyethylene, propylene, elastomers, agricultural films, etc.;
- pharmaceutical products (23.9%): ethic drugs, radiopharmaceutical products, etc.;
- telecommunication chemical products (18.9%): optic films, pigments, filters, etc.;
- agrochemical and fine chemistryproducts (18.5%): insecticides, herbicides, fertilizers, food additives, etc.;
- functional chemical products (10.7%): methanol, caustic soda, aluminum hydroxide, alumina, nitric acid, acrylonitrile, active pharmaceutical ingredients, polymeric additives, resorcine, colorants, etc.;
- other (2.2%).
Net sales break down geographically as follows: Japan (31.7%), China (19.2%), Asia (19.5%), North America (17.7%), Europe (4.2%) and other (7.7%).
SUMITOMO CHEMICAL CO., LTD. 
