Resin Producer Pushing for Nickel Increases in September PE and PP
September 30, 2021
LyondellBasell has withdrawn its nickel price increases for September Polypropylene (PP) and Polyethylene (PE) contracts, and will instead seek an increase of the same amount for October.
For PP, the company said in a letter to customers the withdrawal of the September price initiative comes as it is settling its September 2021 PP prices in alignment with the published change in the September US Gulf Coast Propylene Monomer price, which settled down by $.03/lb to $.84/lb with no additional price increase for PP.
The September price increase was announced in the wake of Hurricane Ida, which hit Louisiana and took out some resin production in various parts of the state.
For October, LyondellBasell said it would implement a $.05/lb margin enhancing increase for PP in alignment with the published change in the October PGP contract price.
In a separate letter to customers, the petrochemical producer also said it was settling its September PE prices and withdrawing its proposed $.05/lb price increase. For October, LyondellBasell intends to implement a $.05/lb price increase for all PE grades.
September PE contracts have not been finalized but appear to be settling flat.
By Brian Balboa for The Plastics Exchange.
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