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LyondellBasell Lifts Force Majeure and Defers Price Hikes on Resin by One Month
May 10, 2022


Major North American resin producer LyondellBasell announced on Tuesday it was lifting a force majeure (FM) at one of its facilities and deferring its proposed April and May price increases by one month.

In a letter to customers, LyondellBasell said it will lift the FM on certain Polypropylene grades from its Lake Charles, Louisiana, facility. The company added that although it was lifting the FM, its May allocation would remain in place, and it will initiate a strict sales control program in June to facility against customer demand.

In another letter to customers, LyondellBasell added that it was amending its April Polyethylene (PE) price increase of $.06/lb to May and amending its May price increase of $.06/lb to June. The deferred price increases come after April Polyethylene contracts settled flat last week.

No other producers have formally deferred April or May PE price increases yet. Other producers have nominated May PE price increases at $.06-.07/lb.

By The Plastics Exchange.


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