PP price hike likely

A major resin producer has confirmed it will issue a 4 cts/lb increase for polypropylene effective Dec. 1, according to a report carried by Platts News service. The report did not name the supplier, but it indicated that other surveyed resin producers said they would also issue PP price increases for Dec. 1. The most recent PP increase, a 3 cts/lb increase announced in August was postponed until mid-September, at which time customers said they saw an average increase of less than 2 cts/lb. The current price increase for PP is in advance of a planned increase in for feedstock polymer grade propylene.