US polyethylene makers begin to push August increase to September

Ample competitiveness has pushed US polyethylene producers to defer their 5 cents/lb price hike for August to September, as per Platts. ExxonMobil was said to be the first producer to give up on the increase and others have followed, as demand does not seem strong enough to support the August increase. Weak demand was evident in PE auctions over the last two weeks run by Ineos. Export market also witnessed soft demand as importers seem only interested in buying hand to mouth, and lacked confidence to build up inventory.
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