Morgan Stanley analyst Vincent Andrews reports that CMA has just called the April North American polyethylene contract price up 3cpp, which the firm calls “a solid outcome” for Dow (DOW), LyondellBasell (LYB) and Westlake (WLK). While noting that “today’s increase is likely in line with consensus,” the firm adds “it is better than what we had” since Morgan Stanley had taken the April increase out of its models prior to Q1 reporting.
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