CINCINNATI — Millennium Petrochemicals has joined other major polyethylene manufacturers in announcing a 3 cent price increase effective Dec. 1.
The increase affects all grades of high, low and linear low density PE, including the Cincinnati-based company's rotational molding powders.
Several PE makers — including Dow Chemical Co. of Midland, Mich., Mobil Chemical Co. of Edison, N.J., Westlake Polymers Corp. of Houston and Union Carbide Corp. of Danbury, Conn. — had previously confirmed similar increases.
The attempt was spurred by increased demand and diminishing margins in the face of a steady ethylene market, according to several resin makers. PE prices have dropped an average of 4 cents per pound since midsummer.
A Millennium spokesman said his firm's move does not affect PE produced by Lyondell Petrochemicals of Houston. The two companies will merge their olefins and polyolefins operations Dec. 1 to form Equistar Chemicals.
A Lyondell spokesman declined comment on the increase announcements.