07 May 2012 00:00 [Source: ICB]
US PRODUCERS SPLIT PE PRICE HIKES
Canada-based polyethylene (PE) producer NOVA Chemicals will push a proposed 7 cent/lb ($154/tonne, €117/tonne) US increase from May 1 to June 1, sources said. This comes after US-based producer Lyondell-Basell told its customers that it would split a 7 cent/lb increase with 4 cents/lb in May and 3 cents/lb in June. Current prices for linear low density polyethylene (LLDPE) butene were at 77-80 cents/lb DEL (delivered); low density polyethylene (LDPE) film prices were at 86-88 cents/lb DEL; and high density polyethylene (HDPE) blow molding prices were at 75-77 cents/lb DEL, for small volume buyers, as assessed by ICIS.
TWO US PS PRODUCERS RAISE THEIR PRICES
Effective May 1, two US-based polystyrene (PS) producers are increasing prices by 2-4 cents/lb ($44-88/tonne, €34-67/tonne) for May contracts. Citing rising feedstock costs, Styro-lution and Americas Styrenics are increasing general purpose polystyrene (GPPS) and high impact polystyrene (HIPS) by 2 cents/lb, and 4 cents/lb, respectively. Before any increase, ICIS assessed US PS prices at 89-92 cents/lb for bulk GPPS DEL (delivered) and 100-103 cents/lb for bulk HIPS DEL.
CHINA TRADERS OFFER IRAN PE AT LOWER COST
Around 15,000-20,000 tonnes of Iranian polyethylene (PE) are expected in China in early May, and traders are quoting offers at least $40-50/tonne lower than the best offers by other Middle East producers, anticipating Chinese prices to weaken upon the shipment's arrival. Middle East producers offered film grades HDPE and LLDPE at $1,430-1,450/tonne and $1,390-1,440/tonne on a CFR China basis for May, industry sources said.
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