Rising oil and feedstock prices have been spiking polymer prices globally. Mitsubishi Chemical, Japan's number one chemicals maker, will be increasing prices of polyethylene and polypropylene by as much as 30% from October.
Japan's trade surplus in August shrank to ¥116.3 bln (US$1.04 bln) from last years' ¥572.9 bln, as surging crude oil prices pushed imports up 21% to a record high.
Imports rose to ¥5.1 trillion, with energy costs accounting for over 50%. The biggest concern is that rising oil prices could disrupt growth in the U.S., curbing consumer demand and negatively impact Japanese exports. A swollen import bill may erode corporate profit, slowing wage increases that have fueled a recovery from recession.
26-Sep-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}