We hear that prices are going up because of supply chain issues and limited availability of raw materials. (Not to mention the blame on “labor shortage” discussed many times here).
But not only companies are raising prices way more than their raw materials costs have increased, but they are creating the shortage themselves.
Another supplier/competitor to my company (chemicals) just announced that they have no intention on supplying more product to the market to satisfy the demand. They just want to make more money.
Here’s the quote from the CEO: “I have no problem with us being essentially sold out. (…) Huntsman needs to have (…) better margins, low costs and be able to take a great business and make it even better.” Published in Rubbernews.com, March 7, 2022
You might thing this is about a small chemical component that doesn’t matter. But many other companies are doing the same. And all those small components are used to make everyday life items (fridges, mattresses, furnitures, cars, etc.).
I know this post is not going to change anything. I’m just angry and needed to vent.