US PE for export declines 3-5 cents/lb for all grades

HOUSTON (ICIS)–US polyethylene (PE) prices for exports dropped 3-5 cents/lb on all grades during the week on ample supply and a move by some producers to cut contract prices in November, sources said on Friday.

Three producers notified customers separately during the week that they plan on cutting monthly contracts by 3 cents/lb.

At an INEOS auction this week, a railcar of high density (HDPE) blow moulding at bulk for export, but not for Mexico or Europe, sold for 46 cents/lb, sources said.

Major PE producers include Chevron Phillips Chemical, Dow Chemical, Exxonmobil, Formosa Plastics, LyondellBasell, Nova Chemicals and Westlake Petrochemicals.