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Additional North American Producers Push for Higher Polyethylene Prices in January
December 16, 2021

The push for a January Polyethylene (PE) contract price increase in North America has gained support from additional producers on Thursday. LyondellBasell and Dow Chemical both said they intend to increase prices on their PE resins.

The January price initiatives come one day after ExxonMobil said it would implement a $.04/lb increase on all its HDPE, LDPE, LLDPE and PE resins, effective January 1.

In a letter to customers, LyondellBasell said it's Equistar Chemicals business will implement a $.04/lb price increase on all of its PE products, effective January 1. The company added that fulfillment of future orders is subject to its acceptance of each order and its ability to supply product.

Dow Chemical and Dow Chemical Canada said in a letter to customers that it would also increase prices on all PE sold in the US and Canada by $.07/lb, effective January 1, or as contracts allow. Dow's PE price announcement also is the largest for January.

The increases seem to motivated by producers seeking to stem the steep slide in 4Q'21 Polyethylene resin prices and reverse the trend in Q1'22. Contracts have fallen by $.10/lb over the past two months and since PE spot levels have been sliding further in December, which has been driven by growing supply availability, Dec contracts are also pointing towards another decrease.

By Brian Balboa for The Plastics Exchange.

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