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RAW MATERIAL SUPPLY AND DEMAND IMPACT: March 2021
Customers and suppliers are being impacted by a number of price increases affecting plastic products following extended issues in the supply chain - as a result of the impact of the severe shortages of the raw materials used by producers of PVC, Polyethylene and Polymer Resin - currently escalating significantly.
Prices have continued to rise since November 2020 due to the shortages, high product demand in the UK and globally and logistical issues. In addition, more recently there have been production plant outages in Europe and North America, with some shutdowns being caused by the extreme cold weather seen in February. These incidents have led to producers enforcing ‘force majeure’ that has left manufacturers facing significant price increases, restricted volume and the need to source more expensive products to keep supply in place.
This has resulted in manufacturers having no choice but to pass on the price increases to the market to maintain supply of products, with a number of them taking effect from 5th April 2021.
PRICE INCREASES
We have discussed these increases and their impact at length with our suppliers and can assure our customers that where we have to work with reduced notice periods - we are doing our best to minimise impact where we can.
Details of all supplier increases are published on our website here.
SUPPLY
With our branches holding strong levels of stock, committed support from both our primary and secondary suppliers and working with the latest supply information; we are in a good place to continue supply to our customers.
All of our suppliers have confirmed that sufficient raw material has been secured for the immediate future to ensure that production will continue, although some extended leadtimes may be experienced. Where these challenges continue in the medium term we will remain in close contact with our customers, keeping them informed as the situation progresses.
Should you have any immediate concerns please speak to your local branch or sales contact regarding any specific supply issues or email commercial@keyline.co.uk.
Please see below for additional information:
British Plastics Federation statement
European Plastics Converters statement
Keep up to date with plastic price marketing and analysis here
Prices have continued to rise since November 2020 due to the shortages, high product demand in the UK and globally and logistical issues. In addition, more recently there have been production plant outages in Europe and North America, with some shutdowns being caused by the extreme cold weather seen in February. These incidents have led to producers enforcing ‘force majeure’ that has left manufacturers facing significant price increases, restricted volume and the need to source more expensive products to keep supply in place.
This has resulted in manufacturers having no choice but to pass on the price increases to the market to maintain supply of products, with a number of them taking effect from 5th April 2021.
PRICE INCREASES
We have discussed these increases and their impact at length with our suppliers and can assure our customers that where we have to work with reduced notice periods - we are doing our best to minimise impact where we can.
Details of all supplier increases are published on our website here.
SUPPLY
With our branches holding strong levels of stock, committed support from both our primary and secondary suppliers and working with the latest supply information; we are in a good place to continue supply to our customers.
All of our suppliers have confirmed that sufficient raw material has been secured for the immediate future to ensure that production will continue, although some extended leadtimes may be experienced. Where these challenges continue in the medium term we will remain in close contact with our customers, keeping them informed as the situation progresses.
Should you have any immediate concerns please speak to your local branch or sales contact regarding any specific supply issues or email commercial@keyline.co.uk.
Please see below for additional information:
British Plastics Federation statement
European Plastics Converters statement
Keep up to date with plastic price marketing and analysis here