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Nova Chemicals delays 5 cents/lb PE price increase until March

Houston — Nova Chemicals Corp. is delaying a previously announced price increase of 5 cents/lb for its US polyethylene prices, the company said in a letter to customers obtained Friday by S&P Global Platts.

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The increase was meant to begin February 1 but is now delayed to implementation on March 1.

The company was not available for a comment Friday.

The price increase is an addition to a previously implemented increase of 4 cents/lb for all polyethylene resins, which began in January 2020.

Platts last assessed US LDPE at $937-$959/mt FAS Houston, US linear LDPE at $761-$783/mt FAS Houston and US high density PE blowmolding at $772-$794/mt FAS Houston.

Spot LDPE prices rose as offers remained scarce on the week and as supply tightened. LLDPE and HDPE blowmolding fell in the week ended Wednesday as market concerns grew from the worldwide spread of coronavirus.