The past days have brought a handful of pricing announcements from suppliers and, no surprise, all indicate price hikes are on the way. Thermoset plastics, thermoplastics, fillers, specialty materials—the prices for all are moving higher as suppliers work to cover the increasing cost of raw materials.
The rising cost of raw materials is a major issue for any number of industries. Since the start of 2010, prices have risen for oil (+16.3%), platinum (+21.8%), coffee (+76.9%) and copper (+31.3%), for example. As we recently reported, the prices last year for many commodity plastics also rose. For the year, processors had to spend about 19% more for HDPE in December 2010 as they did at the start of 2010, about 19% more for PP and some 14% or so more for GP-PS.