Braskem America will seek a 3 cents/lb ($66/mt) increase in its polypropylene prices effective April 1, on top of any change in the monomer contract price for the month, the company said.
"This increase will be on shipments made on or after April 1, 2018 and is in addition to any change in polymer grade propylene (PGP) pricing between March 2018 and April 2018," Braskem America said.
Braskem America is the second US producer to announce a price increase for April.
Two LyondellBasell subsidiaries, Equistar Chemicals and Mexico-based Basell Poliolefinas, plan to raise their April North American polypropylene pricing by 5 cents/lb ($110/mt) in addition to any change in feedstock pricing, the parent company said Thursday.
"Specialty grades may be subject to a price increase of a different amount," LyondellBasell added.
Neither Braskem America nor LyondellBasell specified a reason for the proposed price increase, but market participants have cited expectations of strong demand as the main reason for the increases. Expectations for March deliveries are strong, as are the predictions for April consumption, they said.
