The seemingly insatiable international appetite for North American resin has been driving export prices higher, which, in turn, has been supporting domestic resin pricing and producer increase initiatives.
All commodity polyethylene (PE) and polypropylene (PP) grades added another $0.005/lb last week. Processors absorbed the June $0.04/lb PE increase in stride and the upward momentum has been sustained into July, bringing the next $0.05/lb increase...
Many processors tapped the spot market, fearing that this would be their last chance at these stellar prices. Others decided to wait, not because of price, but rather uncertainty regarding future business.
Trade flow from both buyers and sellers was fluid last week and transacted volumes rivaled the average tally seen during the strong first quarter of 2020, reports the PlasticsExchange in its Market Update.