PE contract prices in US up US$0.04/lb. for February due to tight supply; increase comes after four consecutive months of flat pricing, brings HDPE prices higher by US$0.20/lb., LDPE and LLDPE prices higher US$0.18/lb. compared with November 2012 prices
LONDON , March 20, 2014 (ICIS Chemical Business (CBNB Abstracts)) – On 27 Feb 2014, the contract prices of US polyethylene (PE) for Feb 2014 were reported to have increased by 4 cents/lb ($88/tonne) due to tight supply. For small volume buyers, ICIS assessed prices for low density PE (LDPE) film at 92-94 cents/lb DEL (delivered), high density PE (HDPE) blow moulding prices at 83-85 cents/lb DEL and linear low density PE (LLDPE) butane film prices at 83-85 cents/lb DEL. This increase, which comes after four consecutive months of flat pricing in the PE market, brings HDPE prices higher by 20 cents/lb and LDPE and LLDPE prices higher by 18 cents/lb compared with Nov 2012 prices. At least three companies were running under force majeure or product rations in Feb 2014, and another producer extended a scheduled maintenance turnaround at one plant. These contributed to the tight supply in the market. Flat prices are expected for Mar 2014. Only a single producer is nominating an increase of 6 cents/lb for the month. At least three companies have nominated an increase of 6 cents/lb for Apr 2014.