Specialty chemicals company Lanxess has announced plans to raise prices worldwide for its inorganic pigments with immediate effect, subject to existing contracts.

The price adjustment will comprise EUR140 per metric ton for iron oxide pigments and EUR 280 per metric ton for chrome oxide pigments or its local currency equivalent. Customers will be contacted individually regarding the specifics of the price increase as it applies to their products or regions, a statement said.
 
Lanxess’s Inorganic Pigments business unit is the world's largest manufacturer of synthetic iron oxides and a leading producer of inorganic chrome oxides. These products have a track record going back many decades as colorants for building materials, paints and coatings, plastics and paper, and as specialty pigments for toners and other applications.

They are marketed under the names Bayferrox, Bayoxide and Colortherm. These high-tinting-strength inorganic pigments are produced according to strict sustainability criteria, it said.

Lanxess also increased the prices for its chrome chemicals by up to 10 percent with immediate effect. The Leather business unit is forced to take this second step due to a further and sustainable increase in market prices for chrome ore, the main raw material for the production of chrome chemicals, since the previous price increase in November 2016, the company said.
 
Affected are all related product groups, i.e. sodium dichromate, chromic acid and basic chrome sulfate (tradenames Chromosal and Baychrom).

Lanxess is a leading specialty chemicals company with sales of EUR7.9 billion in 2015 and about 16,700 employees in 29 countries.

The company is currently represented at 54 production sites worldwide. The core business of Lanxess is the development, manufacturing and marketing of chemical intermediates, specialty chemicals and plastics. Through Arlanxeo, the joint venture with Saudi Aramco, Lanxess is also a leading supplier of synthetic rubber.  - TradeArabia News Service