Ineos Olefins and Polymers to seek 3-cent/lb hike on US June polypropylene

摘要

Houston — Ineos Olefins and Polymers USA plans to increase June polypropylene prices 3 cents/lb ($66/mt) in addition to any change in feedstock polymer-grade propylene pricing, the company said Tuesday in a letter to customers obtained Wednesday by Platts. The company is the first producer to announce a June hike and comes on the heels of a 6-cent drop in US propylene contract prices. April polymer-grade propylene settled at 43 cents/lb, sources said, 5 cents below the initial nomination of a 1-cent/lb decrease heard in late March. May PGP contracts are expected 1-2 cents/lb lower, which would put contract prices at their lowest since they were 41 cents/lb in July 2009.