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Prime polyethylene (PE) and polypropylene (PP) prices edged a cent higher last week, while March PE contracts rose $0.04/lb and PP contracts jumped a full dime.
Polyethylene and recycled polyethylene supply chains can’t seem to buy a break, and even if they could, they’ve probably already spent everything on gasoline.
As more capacity comes online during the year, producers will have to find a way to move surplus resin at some point. In the meantime, more price increases are on the table.
The price of oil has been on a roller coaster ride, but it will probably settle above $100 per barrel for the foreseeable future, and that will have an impact on resin pricing.