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Inks and coatings will be more expensive in 2018
As of January 2018 Sun Chemical will increase its prices on liquid inks and coatings for flexible packaging for customers across all regions.
The percentage increase will be in the high single digits and will vary dependent on the product composition and product line. Sun Chemical will communicate specific details directly with customers.
The increases are mainly due to production and environmental restrictions on key materials, especially in China where there has been an unprecedented number of force majeure incidents and escalations in the prices of oil, solvents and key monomers for polyurethane (PU) resins. Additionally, the supply situation of titanium dioxide (TiO2) white pigment remains tight, driving continued cost increases.
Felipe Mellado, chief marketing officer, commented, 'The high levels of raw material costs are unprecedented and as a result make it necessary for us to keep our ink prices under review. We work proactively with our supply chain partners to manage and minimise costs, but due to the economic reality, cost pressures have been constant and significant price increases are being passed on to the inks industry. To ensure we maintain high levels of product quality and service, it has become necessary to increase customer prices.'