NOVA to push 4 cent/lb PE increase from Feb to March

12 February 2013 20:46  [Source: ICIS news]

HOUSTON (ICIS)--North American polyethylene (PE) producer NOVA Chemicals announced it will push a proposed 4 cent/lb ($88/tonne, €66/tonne) price increase from 1 February to 1 March, sources said on Tuesday.

The move would keep February prices flat at January levels.

Buyers, who were alerted to the decision on Tuesday, said there was no specific reason given for the shift. But with recent drops in spot ethylene costs and weakening demand for exports, some buyers had been pushing for flat pricing for the month.

Some buyers said they expected other producers to quickly follow NOVA in pushing the February increase to March.

However, others said it was too early to know whether other producers would follow, saying they still see some tightness for certain grades of PE.

Current prices for linear low-density polyethylene (LLDPE) butene were at 70-73 cents/lb DEL (delivered); low-density polyethylene (LDPE) film prices were at 79-82 cents/lb DEL; and high-density polyethylene (HDPE) blow moulding prices were at 68-71 cents/lb DEL, for small volume buyers, as assessed by ICIS.

($1 = €0.75)

By: Michelle Klump
+1 713 525 2653

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