POLYETHYLENE RESIN PRICE INCREASE EFFECTIVE SEPTEMBER 1, 2016
Dear Polyethylene Customer:
Effective September 1, 2016, We will increase the selling price of
all polyethylene resins in the United States by US$0.05/lb.
This letter replaces the previous unimplemented price announcement. Products included in this price increase are: All LLDPE Resins
August 01, 2016
At least two resin producers, LyondellBasell and Dow, have nominated a $.05/lb increase for Polyethylene effective September 1, 2016.
Oil Falls Below $40 for First Time Since April. Growing Oil Glut Shows There’s Nowhere to Go But Down. Oil has tumbled from its recent peak in early June, ending a recovery that saw prices almost double from a 12-year low in February
LLDPE –stretch film resin demand picks up in anticipation of higher prices ahead
Stretch film re-stocking by distributors commences as resin increases are announced in the U/S/
Natural gas edges up – LNG is used to produce stretch film resin in the U.S. unlike elsewhere where crude oil is the primary raw material used.
Continuing reactor production issues impacting resin output in the U.S.
LLPDE – Summer dog day doldrums appear to be in the rearview mirror as we move into August
MARKET DYNAMICS – support for higher resin prices
Chevron posts largest quarterly loss since 2001 on weak oil prices
It was Chevron's third straight quarterly loss, the longest slump for the company since at least 1989.
The average sales price for crude oil and natural gas liquids in second quarter 2016 was $40 per barrel, down from $56 a year earlier. In the US, the segment's loss deepened to $2.46 billion from $2.22 billion a year ago.