New $.05/lb Price Increase Nominated for January PE

In a letter to customers dated December 4, 2024, ExxonMobil’s previously nominated $.03/lb Polyethylene price increase effective November 1, 2024, which had been rolled forward from October has new been restated as a $.05/lb increase effective January 1st, 2025.

After acquiescing to a $.03/lb decrease in October, PE producers have conducted a heavy inventory purge during 4Q much of it into the export market to help rebalance their bulging supplies against demand and stem the slide in domestic prices.  

There is usually a Polyethylene price increase nominated for January, and the market traditionally finds strength as the calendar flips to a new year, we will see how it turns out this year.