First US Polyethylene Price Increase Announced for 2022

December 14, 2021

As domestic US Polyethylene spot prices continue to erode in December, likely setting up for a third consecutive monthly contract decline, one major producer is already looking to stem the slide and reverse the market's course by issuing a price increase for January 2022.
ExxonMobil said in a letter to customers that it will implement a $0.04/lb price increase on all its HDPE, LDPE, LLDPE and Polyethylene resins, effective January 1, 2022.
No other PE producers have yet followed suit, but if a price hike is successful in January it would be the first increase for PE contracts since July.
PE contracts have fallen $.10/lb over the past two months, and with domestic prices still coming down from record highs set this past summer amid growing supply availability, another decline is expected for December contracts.
Even with a likely decline in December, PE contracts are still up a net $.31-.33/lb for 2021.
By Brian Balboa for The Plastics Exchange.

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