Polypropylene Producer Announces Margin-Enhancing Increase for September
09/20/2021
Another Polypropylene (PP) producer is looking to offset falling Polymer-Grade Propylene (PGP) prices, with a margin-enhancing increase for September contracts.
In a letter to customers obtained on Monday, Ineos said effective September 1, it will increase the price of PP resins by $0.05/lb, over and above the change in the contract price of PGP between the months of August and September 2021. The company said the price initiative is a delayed implementation of the $0.05/lb increase announced for July.
Since August PGP contracts settled up $.11/lb to $.87/lb last month, spot monomer prices have drifted lower trading in the low $80s/lb last week.
By Brian Balboa for The Plastics Exchange.
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