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April Polypropylene Price Increase
April 06, 2023
At least one producer intends to push through a margin-enhancing price increase on Polypropylene this month.
In a letter to customers on Thursday LyondellBasell said it would seek an increase of $.03/lb on PP, in addition to the change in the upcoming April PGP contract settlement, effective April 1.
LyondellBasell is the first producer to formally come out with an increase on PP for April, which comes on the heels of an $.08/lb increase in the March PP contract.
This price increase, if implemented, could somewhat offset a cost-led price decrease which seems imminent for April, as the steep first quarter PGP rally unravels. PGP contracts rose $.26/lb during Jan-Mar, which was essentially passed through to contract resin buyers minus some margin contraction.
By The Plastics Exchange.
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