AOC Announces Price Increase For United States And Canada
May, 2008 : Collierville, TN
AOC, LLC announces a US $0.10/lb price increase on all resins, gel coats, pigments, colorants and additives for the United States and Canada (CN$.22 per kilo) effective for all shipments on and after Monday, June 30, 2008.
This announcement will help offset escalating raw material and energy price increases. The West Texas Intermediate (WTI) price for Crude Oil as traded on the NYMEX continues to increase almost daily at a record pace. For the month of May alone, WTI has increased $20/barrel to a level that reached $135/barrel.
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As North America ends one of the coldest winters in recent times, Natural Gas inventories have declined to levels below the five year average. NG demand in the Petrochemical Industry remains high as it continues to be the feed stock of choice. This low supply/high demand situation continues to put upward pricing pressure on raw materials for UPR resin manufacturing. And if NG was currently priced on a historical basis relative to Crude Oil, then NG prices would be approaching $20/mmbtu, further exacerbating raw material costs.
About AOC
AOC is a leading global supplier of resins, gel coats, colorants, additives and synergistic material systems for composites and cast polymers. For more information on AOC technology, quality and service, phone Steve Martin at (901) 854-2847, e-mail SMartin@aoc-resins.com or go to www.aoc-resins.com.