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Tuesday, June 6, 2023

ExxonMobil pushes US, Canada polyethylene increase to December: sources

ExxonMobil Chemical has delayed a 5 cents/lb November polyethylene increase for buyers in the US and Canada, multiple market sources said Monday.

A buyer source said ExxonMobil would attempt to implement the 5 cents/lb increase in December. Company spokeswoman Margaret Ross declined comment Monday, citing the company’s practice to not comment on prices.

ExxonMobil was among the major producers pushing new or previously unimplemented 5 cents/lb increases for November, but there has been growing talk among market participants in recent weeks that any additional price hike could be difficult to push through. Some buyers have suggested domestic contract prices could remain flat through the end of the year.

October domestic polyethylene contracts settled flat after the US market saw prices fall by a combined 9 cents/lb in August and September.

October high density polyethylene contracts were assessed for blowmolding at 66-67 cents/lb ($1,455-$1,477/mt) delivered-rail car basis; at 66-67 cents/lb ($1,455-$1,477/mt) for injection grade; and at 69-70 cents/lb ($1,521-$1,543/mt) for HMW film.

October domestic low density polyethylene contracts were assessed at 75-76 cents/lb ($1,653-$1,675/mt) for delivered rail cars, while linear-low density butene contracts were assessed at 62-63 cents/lb ($1,367-$1,389/mt) for delivered rail cars.

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