-- Dow (DOW) and Exxon Mobil (XOM) are among companies raising prices for plastics as the US-Israel war with Iran drives fuel and feedstock costs higher, Bloomberg reported Tuesday, citing company documents.
Dow plans to raise prices of polyethylene resins for North American buyers through at least May, including a boost of $0.30 a pound in April and a $0.20 increase next month, the report said.
Exxon last week announced increases of $0.30 a pound in April, up from the $0.20 boost planned earlier, the report said.
Dow and Exxon did not immediately respond to requests for comment by.
Dow shares fell 2.9% in Tuesday trading, and Exxon dropped 3%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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