US Polyethylene contract prices January

US Polyethylene contract prices

US PE contract prices in January rose by USD44 per tonne

US Polyethylene contract prices

MOSCOW – January contract prices for polyethylene (PE) in the US rose 2 cents per pound (USD44 per tonne) amid improved demand and higher export prices, ICIS reports.

Domestic demand in January improved overall compared to December, as buyers tend to maintain a limited inventory in December and must replenish stocks in January.

US manufacturing activity rose in January after five consecutive months of decline.

PE export prices also rose in January, as low margins by Asian and European naphtha producers prompted some to lower loading levels.US Polyethylene contract prices

The launch of three new plants with an aggregate capacity of 1.32 million tons per year was postponed from the end of 2019 to the first or second quarter of 2020, which led to lower than expected production growth.

According to the ICIS-MRC Price Survey , consumer activity in the local polyethylene market increased in Russia, processors began to replenish their stocks of raw materials for work in February.

Excess supply is still preserved, but already for certain types of PE the market has begun to enter the balance of supply and demand.

The main producers of polyethylene in the United States are Chevron Phillips Chemical (CP Chem), DowDuPont, LyondellBasell, ExxonMobil, Formosa, INEOS, Total Petrochemicals and Westlake.

Author: Anna Larionova

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