As you will certainly be aware, from either personal, business or media reporting, there has been alarming growth in both Gas and Electricity affecting nearly all markets around the world. Since the beginning of 2021, we have seen gas and electricity prices increase at an exponential rate, to levels that are at least 2.5-3 times the typical seasonal price level.
Aside from raising energy costs the costs for Ferro alloys and additions, particularly those that are Silicon and Magnesium based, have grown exponentially in the last 6 months, reaching 20 years highs.
Please see also what the CAEF is reporting about “Alarming raw materials and energy costs”.
UCB Group is unfortunately not immune to these market conditions and as result UCB will adjust the price for their products.
We will continue to monitor the costs precisely, keeping our customers informed as always.