Petrochem majors to raise May polyethylene prices in USA

02-Apr-15

Several US polyethylene producers have announced price hikes for May. ExxonMobil Chemical announced plans to implement a 5 cents/lb increase next month. Chevron Phillips Chemical and Equistar Chemicals also plan to increase prices for all grades 5 cents/lb in May, according to Wednesday letters to customers obtained by Platts. The letters did not provide a reason for the increase, but sources have pointed to increasing domestic demand in March and an expectation that April will also be a strong month for producers. Dow Chemical, which had previously announced a 5 cents/lb increase for March that could not been implemented, continues to push for an increase. Ineos Olefins and Polymers has announced an April 4 cents/lb increase for high density polyethylene. Remaining producers are likely to follow suit in the coming days, as per market sources in Platts.