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Second May Polypropylene Margin Enhancing Price Increase Announced
04/06/2022


Although April Polypropylene (PP) contracts have yet to be settled, a second major North American resin producer has announced its intention to implement a margin expansion for May PP contracts, which comes amid strong demand from processors and resellers, tight supply availability and higher feedstock Polymer-Grade Propylene (PGP) prices.

In a letter to customers on Wednesday, TotalEnergies said it will increase the price of its PP products by $.06/lb in addition to any change in monomer.

The company's May initiative follows a similar announcement from ExxonMobil earlier this week notifying customers of a May increase of $.06/lb, separate from any change in PGP, and from previously announced increases.

Meanwhile, LyonellBasell still has a proposed margin enhancing price increase on the table for April at $.04/lb.

Both the April and May price initiatives also come amid additional strain on PP production and supply availability, following two force majeure declarations, one at LyondellBasell's facility in Lake Charlies, Louisiana, and the other from Ineos Olefins & Polymers due to a power outage and manufacturing breakdown at its facility in Carson, California.

By Brian Balboa for The Plastics Exchange.


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