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Another Polyethylene Producer Joins Collective Push for January Contract Increase
December 17, 2021

A fourth Polyethylene producer has joined the aggressive and collective push by resin producers to increase North American contract prices by $.04-.07/lb at the start of 2022, as they look to stem the steep slide in Q4 2021 prices and reverse the trend in Q1 2022.

In a letter to customers, Westlake Polymers LLC announced a $0.04/lb price increase for all grades of PE effective January 1. The company said its orders will be accepted contingent upon a minimum two-week lead time from the shipment date and its ability to supply.

Westlake's $.04/lb increase is on the lower end of the January price initiatives, following ExxonMobil and LyondellBasell, which announced increases at the same level earlier this week.

Dow Chemical and Dow Chemical Canada announced the highest increases on its PE resins for January at $.07/lb, or as contracts allow.

Despite the January increases, growing supply availability has continued driving PE spot prices lower in December, following a $.10/lb decline in contracts over the past two months. Resellers will also likely continue unwinding inventory positions into January.

By Brian Balboa for The Plastics Exchange.

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