For the first time in what seems like ages, prices on many commodities and raw materials are trending upwards to begin Q4. Global producer ALTIVIA announced a $.05/lb increase on Acetone this week, effective mid-August, presumably amongst increasing production costs from Crude Oil & Natural Gas, amongst other market conditions. Overseas-based ester producers have paused quotes to calculate rising raw material costs and other market factors. Indorama Ventures recently announced FM on products including MEG, MTBE, PO and more due to an upstream outage of supply of industrial gasses.
Oil prices have risen 15% over the last 30 days, while Natural Gas has risen nearly 8% over the same period. Gas & fuel prices are trending upwards, impacting freight rates as well as potentially a preview of home heating costs coming into the cold weather months.