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LyondellBasell issues new June Polypropylene Price Increase
May 13, 2022
In a letter to customers, LyondellBasell has nominated a fresh $.05/lb increase on its PP products, effective June 1. This increase is in addition to the $.06/lb increase that they intend to implement on May contracts and both are net of any change in PGP monomer contracts.
So far, LyondellBasell is the only producer to announce a June price increase, which comes as producers are still collectively seeking a $.06/lb May increase. Based on the current trajectory in PGP spot prices, the May PGP contract is trending towards a large single or even a double-digit decline from the April PGP contract price, which had previously settled with a $.01/lb decrease to $.71/lb.
Meanwhile, current HoPP spot levels are sitting at $1.03/lb with CoPP at $1.13/lb, just a few cents off of 2022 highs.
By The Plastics Exchange.
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