Speaking on the sidelines of K-Fair, the huge plastics trade show in Dusseldorf, the producer said prices on both polymers have increased too much in recent months compared to global values.
US PE rose 5 cents/lb in September, and though a few increases have been announced for October the market consensus is for a rollover this month.
PP rose 6 cents/lb in September and 3.5 cents/lb in August, following increases in feedstock propylene during those months.
The producer said that whatever happens in feedstock propylene, it probably will not affect most PP customers in October. US propylene contract negotiations for October continued late last week with discussions mostly at a rollover to slight decrease.
However, the producer said the end of year usually represents a slow season for PP and PE and that price cuts seem likely for November.
Major PE producers in the US include Celanese, Chevron Phillips, Dow Chemical, DuPont, ExxonMobil, Formosa Plastics, INEOS, LyondellBasell, Nova, Total and Westlake.
Major PP producers in the US include Braskem, ExxonMobil, Flint Hills Resources, Formosa Plastics, Indelpro, INEOS, LyondellBasell, Phillips 66, Pinnacle Polymers, Sasol and Total Petrochemicals.
K-Fair runs 19-26 October.