Dow will implement a Real 400/mt ($130/mt) increase on all polyethylene grades sold in Brazil, effective March 1, the company said in a letter to customers seen Tuesday by S&P Global Platts.
The increase applies to all grades of polyethylene the company produces, Dow said.
The announcement comes after Brazilian producer Braskem said it will maintain the Real 300/mt increase implemented last week in the domestic market on all grades of polyethylene.
Talks of market wide increases have gained steam recently with announcements from North American suppliers' proposing a 6 cents/lb increase for March, sources said.
Platts last assessed domestic Brazilian PE prices at Real 5,370/mt for HDPE film on February 8; Real 5,270/mt for HDPE blowmolding; Real 5,270/mt for HDPE injection; Real 5,420/mt for LLDPE; and Real 5,870/mt for LDPE. All assessments are made on a delivered Sao Paulo basis. - Platts