The High Density Polyethylene Price was bullish throughout Q1 of 2022 with periods of stagnant demand especially in the month of January. The cost push by ExxonMobil, LyondellBasell and other domestic producers came about as a reaction to the sudden surge in feedstock ethylene monomer prices. A mishap at ExxonMobil’s Baytown facility in late December led to a significant amount of Ethylene capacity going offline in the first couple of weeks of January. There was a further cost push of around USD 0.04/lb by producers in the month of February encouraged by a surge in crude oil prices, which shot up to seven-year highs by the last week of January. The contemplated cost push of USD 0.07/lb had been only partially implemented as more capacity had come online in the first quarter including a SABIC-ExxonMobil joint venture with a capacity of 1.3 million ton per annum of Polyethylene production that had improved the supply fundamentals forcing market players to rethink their raise on offers.
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High Density Polyethylene Price Trend and Forecast
India, Uttar Pradesh, Usawan
Published 1 year ago
ID #138136
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High Density Polyethylene Price Trend and Forecast
India, Uttar Pradesh, Usawan,
Published 1 year ago
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