Indorama seeks US PET resin price increase for May

摘要

HOUSTON (ICIS)--Indorama Ventures is seeking a 3 cent/lb ($66/tonne) price increase on all grades of its polyethylene terephthalate (PET) resin in the US, effective 1 May, according to a company letter on Friday. The PET producer cited rising costs of raw materials as the reason for the increase, which is applicable to supplies from subsidiaries Alphapet, Starpet and Auriga Polymers. The increase may be accepted in the market as demand is set to rise with the onset of peak consumption season in the US amid tight supply.