Specialty chemicals company, LANXESS AG, announced that it will increase the global value of iron oxide pigments to over $134 per metric ton. The company reported that for some products and in some regions the price increase could be greater.
According to spokespersons for the inorganic pigments business, this increase in prices is due to the increase in raw material costs, investments in quality, as well as environmental protection measures.
Iron oxides are applied in the construction industry and in paints and coatings, plastics and paper, as well as being used as special pigments for toners and other applications . Lanxess' inorganic pigments business unit achieved total sales in 2009 of US$2,056 million.
