American Celanese, the world leader in the production of products based on vinyl acetate and technical polymers, announced an increase in January prices for the brands of ultra high molecular weight polyethylene (PE) for the European market, the press service of the company reported.

Thus, the price increase will come into force on January 1, 2019 and is consistent with the terms of current contracts.

Thus, PE prices of GUR and GHR grades for this region will increase by EUR150 per ton.

Meanwhile, in its message, the company does not specify the reason for the price increase.

According to ICIS-MRC’s Price Review, buying activity on the Russian market was low last week. Some sellers reported that they had already sold all their December PE volumes. Against this background, the decline in prices stopped with a few exceptions. Some manufacturers began negotiations on the January polyethylene prices. On the part of some of them, the prolongation of the December price level without VAT is discussed. From January 1, 2019, the VAT rate increases from 18% to 20%.

Celanese Corporation is an international chemical company, a world leader in the production of acetate-based products, technical polymers, high-performance products and other chemical products. Headquartered in Dallas (Texas, USA), Celanese has about 7 thousand employees worldwide. The company’s sales in 2015 amounted to USD5.7 billion.