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The American Dow Chemical, an international petrochemical giant, announced an increase in March prices of all grades of polyethylene (PE) in the US market by 4 cents per pound (USD88 per ton), ICIS reported, citing a letter from the company to its customers.<\/p>\n
According to the letter, this increase in PE prices entered into force on March 1, 2019, or in accordance with the terms of current contracts.<\/p>\n
Prior to this, Dow was going to raise the March PE prices in the region by 6 cents per pound or USD132 per ton.<\/p>\n
The company’s decision to raise prices on the American polyethylene market was caused by a reduction in the producer\u2019s margin, as polymer prices declined more rapidly than raw material costs in recent months.<\/p>\n
The company previously announced a rise in prices for all PE brands for shipments in February by 3 cents per pound or USD66 per ton.<\/p>\n
The key PE manufacturers in the US are Chevron Phillips Chemical (CP Chem), DowDupont, LyondellBasell, ExxonMobil, Formosa, INEOS, Total Petrochemicals and Westlake.<\/p>\n
According to the ICIS-MRC Price Review, the past week regarding the demand in the Russian PE market was very calm. For the most part, processors closed all of their deals a week earlier and stood in anticipation of negotiating prices for March deliveries. Excessive supply and low market demand persist, and these factors put serious pressure on prices. In the segment of low pressure polyethylene (HDPE), prices are also affected by cheap imports from Central Asia. Last week price decline continued.<\/p>\n
Dow Chemical is a diversified American chemical company headquartered in Midland, Michigan. It is a major producer of polymer products, including polystyrene, polyurethane, polyethylene, polypropylene and synthetic rubbers. The company produces more than five thousand items of products at 188 production facilities in 37 countries. Earlier it was noted that the chemical companies Dow Chemical Co and DuPont completed the merger on September 1, 2017, within which DowDuPont was created.<\/p>","protected":false},"excerpt":{"rendered":"
The American Dow Chemical, an international petrochemical giant, announced an increase in March prices of all grades of polyethylene (PE) in the US market by 4 cents per pound (USD88 per ton), ICIS reported, citing a letter from the company to its customers. According to the letter, this increase in PE prices entered into force […]<\/p>\n