CELANESE ANNOUNCES 6% PRICE HIKE
NEW YORK — Celanese Acetate on Wednesday said it planned to raise its prices on domestic acetate filament by 6 percent, effective with Aug. 14 shipments.
In a statement, the company said the increase was “necessary in order to improve margins to acceptable levels, as well as to cover recent increases in raw-material prices.”
This marks Celanese’s second attempt to raise prices. Last October, it sought to increase its rates 3 to 5 percent.
Makers of synthetic fibers have made many efforts over the past year to raise their prices, due to the rising cost of oil, which is driving up their raw-material costs. Most notably, polyester makers have sought five rounds of filament price hikes and four rounds of staple hikes. Makers of acrylic fibers and nylon have also sought to raise their charges.
Given the continuing rise in oil prices, fiber executives have said they see no reason to expect the trend of rising prices to end soon.