Prices for chemicals used by the lubricants industry continued to rise the past week. This time, the markups affected phenolic antioxidants sold by two marketers, Albemarle Corp. and Ciba Specialty Chemicals, both of which cited sharp upticks in costs for raw materials, transportation and packaging.
Albemarle said Dec. 15 that it will increase prices on lubricant and fuel antioxidantsby up to 15 percent. The changes take effect Jan. 10.
Ciba said Thursday that it will raise prices on its antioxidants by up to 30 percent, effective Jan. 3. The company, which is based in Basel, Switzerland, said hindered phenolic and alkylated di-phenyl amine antioxidants sold in bulk will see the largest increases.
This increase is necessary to offset the unyielding rise in raw materials, energy, and transportation costs, which have now reached an all-time high, said Thomas Englehardt, head of process and lubricant additives.