Following Ineos Nova and BASF, Borealis has announced plans to increase all polyethylene and polypropylene prices by €100/ton with effect from 25 January. With this price hike decision, the Austrian major will become the third plastics manufacturer to raise prices since the beginning of 2010, as per packagingnews.co.uk. Need to restore margins and stay in line with our innovation strategy has prompted this price hike.
About two weeks ago, Ineos Nova announced plans to increase polystyrene prices by €185/ton to cover feedstock increases. A few days ago, BASF's decided a €150/ton price hike in Europe for its Styrolux polymers due to rising raw material, energy and transport costs.