Reichhold Announces New Price Increase for Unsaturated Polyester Resins in North America
"This additional price increase is necessary due to continuing strength in styrene, benzene, and natural gas prices," explained Reichhold's Composites Senior Vice President Julia Harp. "Uncertainty in Venezuela and the Middle East is creating increased market volatility and driving an increase in styrene monomer costs."
"The price of natural gas has doubled since March, 2002. On February 7, crude oil closed at $35.12 per barrel gaining 4.8% in one week on the New York Mercantile Exchange, the highest closing price since November 27, 2000. As a result of these significant and continuing conditions, we are required to take this action," Harp continued.
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