Due to an ongoing challenge with raw material price increases and a volatile supply chain Sun Chemical, the world’s largest producer of printing inks, has announced it will be raising its ink prices in Canada beginning on July 1st, as well as implementing a new fuel surcharge for the time being.
Ink prices will be increasing by 4 to 14 percent for solvent-based inks, 10 percent for heatset inks, eight percent for coldset black inks, six percent for coldset colour inks, four to six percent for water-based inks and water-based coatings, and 10 percent on all blanket and roller washes.
The price increases for all solvent- and water-based whites and Violet 23 inks will be determined on a case by case basis dependent on the amount of white and Violet 23 in a specific formulation.
The temporary fuel surcharge being introduced by Sun Chemical Canada is to offset increasing oil prices and resulting freight costs. The charges will vary based on the cost of diesel gas per litre.
The surcharge will begin at two-cents-per-kg for diesel gas prices ranging between $1.06-$1.10/litre, the surcharge will increase by one-cent-per-kg for every five-cent increase in diesel fuel.
“We have seen unprecedented cost increases on many raw materials including nitrocellulose, acrylic and polyamide resins, TiO2, and Violet 23 pigments,” said Rod Staveley, president, Sun Chemical Canada in a company release.
“We simply cannot offset the drastic raw material price increases and global supply chain instability we have seen this past year across all our product lines. Despite these challenges, we are looking for ways to work closely with our supply chain partners on controlling our own costs.”