ExxonMobil Chemical plans to raise its North American DINP sales price by 4 cents/lb ($88/mt) on April 1, the company said in a letter to customers obtained by S&P Global Platts Thursday.
Diisononyl phthalate (DINP) is a commonly used plasticizer in PVC applications.
"This action is necessary due to the continued elevation in the cost of feedstock propylene," ExxonMobil said in the letter.
Chemical-grade propylene contract prices for March are expected to increase 4-5 cents/lb, sources said. February CGP contracts settled 6.5 cents/lb higher at 46.5 cents/lb ($1,025/mt), according to sources.
ExxonMobil is the first US producer to announce an April price increase for plasticizers.
S&P Global Platts' US DINP domestic assessment was 75 cents/lb delivered on March 9, an increase of 5 cents compared with a week earlier.
