Chemicals company Celanese Corp. CE, +0.71% said Thursday it is raising the prices of its engineered materials polymer products to combat the rising costs of raw materials and the effect of a 25% tariff on products imported into the U.S. from China. The company said it is raising the price of its propylene-based long fiber thermoplastics, including Celstran, and its polybutylene terephthalate and polyethylene terephthalate compounded engineering plastics, including Celenex, Vandar, Impet, Pibiter, OmniTech and Compel. The price hikes will become effective for orders shipped on or after Aug. 23, or as contracts allow. Shares were not yet active premarket, but have gained 6.9% in 2018, while the S&P 500 SPX, +0.66% has gained 5.4%.
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