The industry gulped hard when PP prices rushed up $0.11/lb right after the hurricane. It has taken some time for processors to digest the sharp spike, and prices only edged up another penny or two this past week.
Fearing disruption, buyers sought to secure additional material as an inventory buffer: All commodity grades of polyethylene and polypropylene rose $0.005/lb.
The flow of offers for PE and PP resins slowed last week, particularly for CoPP, which has become notably tight, leaving unmet demand in this market segment.
