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ExxonMobil Joins Others with July Polyethylene Price Increase

ExxonMobil became the latest Polyethylene (PE) producer to announce a price increase for July contracts, joining three other similar producer price announcements last week.

In a letter to customers that was obtained, ExxonMobil said effective July 1, it will implement an additional $0.05/lb price increase to all High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Linear Low Density Polyethylene (LLDPE), Enable, Exceed, and Exceed XP Polyethylene resins.

June PE contracts have not settled yet, but ExxonMobil confirmed its previously announced price increase of $0.07/lb for all HDPE and $0.05/lb for all LDPE, LLDPE, Enable, Exceed and Exceed XP Polyethylene resins effective June 1.

The company's announcement comes after Dow, INEOS and LyondellBasell made July price announcements last week, driven by solid demand and limited supply availability. Many PE producers are still under force majeure conditions and /or have contract allocations in place.

Dow said it will increase the price for all Polyethylene resins sold in the US by $.05/lb effective July 1, or as contracts allow. The company also said it was implementing its previously announced price increase of $.07/lb for all HDPE resins and $.05/lb for all LDPE and LLDPE resins sold in the US, effective June 1.

INEOS announced a price increase of $.03/lb for HDPE, effective July 1, which was in addition to its previously announced price increase of $.05/lb, effective June 1.

LyondellBasell said its Equistar Chemicals business is increasing prices for all grades of Polyethylene products sold in North America by $0.05/lb, effective July 1. This is in addition to any previously announced price increases, including a $0.07/lb price increase being implemented on June 1.

June PE contracts are expected to settle towards the end of the month.

By Brian Balboa for The Plastics Exchange.

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