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Dow Chemical Targeting Polyethylene Price Increases for January and February
January 19, 2022

Dow Chemical and Dow Chemical Canada confirmed today they will reduce their January price increases on Polyethylene to levels more in line with other producer price increase initiatives, but they would also seek an additional increase for February.

In a letter to customers, Dow said it will be implementing $.04/lb of its previously announced $.07/lb price increase for all its Polyethylene resins sold in the US and Canada, respectively, effective January 1. The $.07/lb price increase was the highest sought for January, compared with the $.04/lb increases announced by other producers which include ExxonMobil, LyondellBasell and Westlake.

Dow also said in the letter that it plans to increase prices on PE by another $.04/lb, effective February 1, making it the first company to nominate an increase for February.

Producers are trying to stem the steep slide in resin prices that were seen in Q4 2021, which included a $.15-.17/lb decrease in PE contracts over the three-month period. Spot resin prices for PE have been steady through the first half of January, which could be construed as somewhat bullish having bucked the steady Q4 price erosion.

By Brian Balboa for The Plastics Exchange.

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