Resin Pricing-North America

Average polyethylene (PE) prices shed another $0.02/lb, while spot polypropylene (PP) prices dropped another $0.04/lb last week, as lower prices were welcomed by buyers filling in supply gaps from the inventory drawdown while awaiting this price relief. Spot-trading platform, The Plastics Exchange (TPE), noted that while there were many transactions, volumes remained small since the overall sentiment continues to be that the market will continue to ease.

Average spot polyethylene (PE) and polypropylene (PP) prices slid $0.02/lb last week, and contracts for both materials will be marked significantly lower in May. Spot-trading platform, The Plastics Exchange (TPE), reported that resin trading continued to improve last week, as lower prices worked their way downstream, spurring some purchases.

Most commodity grade resin prices were a penny lower last week, although polyethylene (PE) film grades managed to hang steady. Spot resin trading platform, The Plastics Exchange, reported that activity was better, and although many buyer inquiries were simply testing the market for price, TPE noted that a larger percentage of transactions were completed than in the previous week. Renewed efforts to implement any of a proposed $0.07/lb PE increase in May have already been abandoned, with flat contracts or even a lower settlement now likely.

Spot resin trading remained challenging last week, as the stream of offers continued to flow at a heavy rate and prices were steady to mostly lower. Spot-trading platform The Plastics Exchange (TPE) noted that despite price increase nominations, April resin contracts for both polyethylene (PE) and polypropylene (PP) rolled flat.

An abundance of offers and swelling material availability was greeted by waning market sentiment, resulting in what spot-trading platform, The Plastics Exchange, called a very difficult week. Polyethylene (PE) and polypropylene (PP) were nominated to increase in April, but contracts for both will remain steady.

"While resin processors were generally aggravated by the current high price level of  commodity grade resins, overall spirits were high and a sense of optimism was in the air." That was the viewpoint of Michael Greenberg, CEO of spot-trading platform, The Plastics Exchange (TPE), whose company exhibited last week at NPE2012.

Spot resin prices were lower last week amidst very good trading activity, according to spot-trading platform, The Plastics Exchange (TPE). March polypropylene (PP) contracts were up $0.05/lb bringing the 2-month total to $0.215/lb, with the price hikes described as being strictly cost-push while demand has wavered. After securing half the $0.06/lb price increase in February, polyethylene (PE) producers have mostly sought to implement the balance of the increase in March.

Polyethylene and polypropylene each gave back the $0.01/lb that was tacked on the previous week, in a week that was busy for the spot resin markets. The Plastics Exchange (TPE) reports there was a good flow of material seen at slightly lower prices, and while demand remained slack, a fair number of deals still came together. The markets have lost some of their upward momentum, as March PP contracts settled up just a nickel after being initially nominated to increase $0.15/lb.

Polyethylene and polypropylene each added $0.01/lb reflecting some faith in March contract price increase efforts, but enthusiasm has begun to wane, according to The Plastics Exchange (TPE). Spot plastics trading was about average last week as a steady stream of resin offers flowed, albeit at higher asking prices while demand seemed a little soft. PE producers are generally just seeking to complete their $0.06/lb increase, half of which was implemented in February, although increases of up to $0.10/lb are out there.

Spot plastics markets were busy and commodity grade prices mixed as February transitioned into March. Spot-trading platform The Plastics Exchange (TPE) reported that February polyethylene (PE) contracts settled with a $0.03/lb increase, while polypropylene (PP) contracts rose $0.165/lb early in the month. March resin prices are nominated to go higher with different levels of increases pegged to PE ranging between $0.03 to $0.10/lb, the latter representing the $0.03/lb not achieved in February plus an additional $0.07/lb.