Chevron Phillips Chemical mulls PE price increase in USA in September

Chevron Phillips Chemical intends to raise price of all grades of polyethylene in USA by 3 cents/lb effective September 1, according to a letter to customers obtained by Platts. With this, CPC joins the growing list of US polyethylene producers planning to raise resin prices in September like ExxonMobil Chemical, Dow Chemical, Equistar Chemicals, and Ineos Olefins and Polymers. Sources have described the US polyethylene market as tight, pointing in part to a number of feedstock and production-related issues. Feedstock prices have also moved higher, with ethylene contract prices for July fully settled at a 1.75 cents/lb increase, sources said this week.
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