HOUSTON — Equistar Chemicals, the Houston-based leader in North American polyethylene production, will reduce its planned April 1 PE resin price increase to 3 cents from 5 cents for some customers.
``Equistar is recognizing that other [PE] companies aren't going to 5 cents and we'll address the situation at existing accounts,'' an Equistar spokesman said. ``Some accounts will see a 3 cent increase, but it won't be across the board.''
Solvay Polymers of Houston, a leading HDPE maker, had taken the 3 cent route in late February. Industry sources said Phillips Petroleum Co. and Eastman Chemical Co. had taken the same step, but officials at those firms could not be reached at press time.
Other major PE makers, including Dow Chemical Co. of Midland, Mich.; Union Carbide Corp. of Danbury, Conn.; Chevron Corp. of Houston; and Nova Chemicals of Calgary, Alberta, had announced 5 cent jumps for April 1. Mobil Chemical Co. had announced 2 cents for Feb. 1 and 3 cents for March 1, but since has consolidated to an attempt at 5 cents on April 1. Officials at Nova and Mobil said they would stick to their 5 cent attempts.
