AOC will make a $0.04/lb price increase on all resins, gel coats, pigments, colorants and additives for the United States, Canada and export shipments for Latin America, effective for all shipments on Monday December 3, 2007.
The global demand for crude oil, continued weakening of the U.S. dollar value and geopolitical issues in oil rich countries of the world have driven crude oil prices to record levels.
Almost everyday a new record high price for West Texas Intermediate (WTI) as traded on the NYMEX occurs. WTI is approaching $100 per barrel in recent days, which is a 30 to 40% increase in pricing from what was seen in the summer months. In spite of record Natural Gas in storage, NG is following crude oil prices up at a time of year where prices should be falling.
These critical feed stocks used to make the raw materials for Unsaturated Polyester Resin have risen based on unprecedented energy demand and the trend will continue as raw material increases lag crude oil price changes.
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