NOVA Chemicals and Chevron Phillips Chemical joined other US polyethylene (PE) producers which announced an increase in prices for all their PE products. Market sources informed SSESSMENTS.COM that the two producers had notified their customers that prices of all their PE products would increase by 4 cents/pound, which would be effective starting from June 1.
Previously SSESSMENTS.COM reported that Formosa Plastics and Dow Chemical also announced a 4 cents/pound increment for their PE products. Equistar Chemicals, a subsidiary of LyondellBasell, also announced a price hike by the same amount. All these price adjustments will be valid from June 1. Market players said the change was aimed to stabilize pricing in the PE market.
Market sources informed SSESSMENTS.COM that US LDPE prices stood at $849-$871/ton. Meanwhile, US LLDPE butene and US HDPE blowmolding were at $596-$618/ton and $607-$629/ton, respectively. All prices are on a FAS Houston term.
