Songwon Industrial Co., Ltd. announced global price increases for its phosphorous based polymer stabilizer products to reflect the sudden rise in raw materials costs. The price increases are effective immediately for SONGWON’s phosphites antioxidants: SONGNOX® 1680, SONGNOX® 6260 and SONGNOX® PQ (including subsequent blends) as well as SONGSORB® 7120.
The price adjustments are aimed at offsetting the higher cost of yellow phosphorous raw materials and their limited availability caused by decree 2021-792 made by provincial authorities of Yunnan, China in September, which restricted the high energy consuming production of yellow phosphorous. Phosphorous trichloride and phosphorus oxychloride (yellow phosphorous derivatives) are key raw materials in SONGWON production and the price for these materials continues to escalate. SONGWON anticipates the global availability of these raw materials to be substantially reduced and is working with high priority to minimize the effects of these exceptional circumstances. It will also be continually monitoring the cost developments and reviewing its prices accordingly.