Resin producers have sent a range of price increase announcements flying out of their offices in recent weeks. Here's a recap of the moves processors have been seeing:
In polyethylene, Edison, N.J.-based Mobil Chemical Co.'s initial move to add a 2 cent price increase March 1 touched off a series of related, but not identical, moves.
Equistar Chemicals, the Houston-based firm that tops North American PE production, announced Feb. 23 it would replace an earlier, 3 cent price increase with a 5 cent increase effective April 1.
Industry sources said Dow Chemical Co. of Midland, Mich., had taken the same step, while Exxon Corp. of Houston was seeking a similar increase effective March 16. Officials at those companies could not be reached at press time.
Solvay Polymers of Houston is taking a slightly different approach. The firm announced Feb. 26 it was postponing, but not increasing, its 3 cent increase attempt for high density PE until April 1.
In PVC, Formosa Plastics Corp. USA of Livingston, N.J., sparked a round of activity by rescinding a 2 cent increase attempt announced for Jan. 1. The company will continue to support a 2 cent increase previously announced for March 1.
Borden Chemicals & Plastics of Geismar, La., and Georgia Gulf Corp. of Atlanta have announced 2 cent increases for March 1, which effectively will replace attempts previously announced for January.
Geon Co. of Avon Lake, Ohio, and Occidental Chemical Co. of Dallas each announced they would rescind the Jan. 1 attempt and would not seek a March increase at this point.
Officials at Geon and OxyChem each said there is a definite need for an increase in the market, but the timing is not right.
``There's a lot of extra capacity chasing too few orders right now,'' said Geon PVC sales director Barry Hendrix.
Market leader Shintech Inc. of Houston said it had no new increases in the works.
In polystyrene, BASF Corp. of Mount Olive, N.J., and Huntsman Corp. of Salt Lake City announced a 3 cent increase attempt for April 1, based on success suppliers said they had seen on a similar increase effective Jan. 1.
Officials at Nova Chemicals Inc. of Calgary, Alberta, said the company had no April increase attempt planned. Officials at market leader Dow also could not be reached by press time.