Spot polyethylene and polypropylene prices managed to hold steady last week, but with weak undertones, as commodity resin market sentiment moves into more cautious territory.

Downstream polyethylene (PE) inventories remain below average, reports the PlasticsExchange (Chicago), leading some processors to anticipate a rise in resin supply and subsequent price decrease. Others, however, view the current price structure as favorable.

Spot PE trading ended April with a flurry, as still-rising prices sent buyers to procure in a hurry. Spot PP resin added another cent, bringing the two-week total to $0.03/lb.

Global bio-based plastics market for packaging is forecast to reach a value of $15.6 billion in 2027.