Sun Chemical boosts pigment prices

By Tom Stundza -- Purchasing, 6/25/2008 9:53:00 AM

Citing a dramatic spike in raw material, energy and transportation costs, Sun Chemical’s Parsippany, N.J.-based Performance Pigments Division has announced it will increase global pigment prices on average by 10% to 30% in July.

“The hyperinflation of oil and natural gas has led to dramatically higher energy, raw material and freight costs,” says Myron Petruch, president of the performance pigments division, in a statement. “In addition, there have been dramatic cost increases in intermediates and pigments out of China and other parts of Asia. Costs are escalating quicker and in higher amounts than at any time in the last 30 years.” Sun Chemical makes printing inks and pigments used by the packaging, publication, coatings, plastics, cosmetics and other industrial industries.

This price increase is in addition to the price increases announced in February, and will affect pigments in all forms, including dry, preparations and flushes. “There is no short-term relief in sight for these rising costs, however, we will continue to look for cost reduction and productivity gains to offset the rising costs of raw materials,” says Petruch.