US INEOS announces 3 cent/lb increase for bimodal PE

15 December 2011 21:53  [Source: ICIS news]

HOUSTON (ICIS)--US polyethylene (PE) producer INEOS Olefins & Polymers announced it will implement a 3 cent/lb ($66/tonne, €51/tonne) price increase on bimodal PE, effective on 1 January, sources said on Thursday.

The price increase for the bimodal material, which is used in pipes, is in addition to a previously announced 5 cent/lb increase on all high density polyethylene (HDPE) grades effective on 1 December, and a 6 cent/lb increase effective 1 January, according to a 15 December customer letter obtained by ICIS.

The increase, which adds a premium to bimodal material, is based on strong demand and limited capacity, the letter states.

Pipe-grade PE has been in high demand recently because of activity related to the shale gas drilling, sources said.

($1=€0.77)

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By: Michelle Klump
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