Strong export demand, more stability in energy and feedstock costs, shuttered facilities reopening, and fresh opportunities to reshore manufacturing put a bounce in buyers’ and sellers’ steps.

A $0.01/lb spot increase for most commodity-grade polyethylene (PE) and polypropylene (PP) resins last week was a small, yet meaningful, uptick compared to the much larger decline seen over the past couple of months, notes the PlasticsExchange.

Aside from worldwide resin demand taking a huge coronavirus hit, the loss of easily exporting incremental pounds from North America probably will require the short term rationing of resin production, perhaps even the shutdown of some crackers and reactors.

Spot polyethylene (PE) prices were steady to a penny lower last week, while polypropylene prices firmed a cent based on higher propylene monomer costs, reports the PlasticsExchange in its Market Update.