CELANESE ACETATE TO UP PRICES
NEW YORK — Joining the growing throng of synthetic-fiber suppliers trying to regain a few precious margin points, Celanese Acetate said it would be hiking its prices 3 to 5 percent, effective Oct. 7.
In a statement, the company said, “the price increase is necessary in order to improve margins to acceptable levels, as well as to cover recent increases in raw material prices.”
A spokeswoman explained that the costs of acetic acid and ethylene have risen this year.
The other major U.S. producer of acetate fiber, Eastman Chemical Co., is not planning price increases at this time, according to Roddy Dayvault, acetate yarn business director.
In May, the top four U.S. makers of polyester filament — DuPont, KoSa, Nan Ya Plastics Corp., America, and Wellman Inc. — said they would hike polyester filament prices. A month later, they followed with polyester-staple price increases.
In August, they announced a second round of filament price hikes, to begin in October. Those would result in total increases in polyester-filament prices of as much as 25 percent since the spring.
The polyester makers cited the rising cost of raw materials, driven by rising petroleum prices, and a need to improve margins to remain involved in the business, as the reasons for their increases.