The spot resin markets ended June with a bang, and the fireworks surprisingly continued through the holiday-shortened week.

Fewer polyethylene inquiries and sporadic supplier offers challenge spot resin trading markets. Polypropylene levels inched up a half-cent amid tightening supplies and firming monomer costs.

Spot supply for most commodity grades of polyethylene (PE) and polypropylene (PP) were available and ample, and prime prices were steady across the board.

Hopes for a price increase on polyethylene (PE) resin were dashed last week, when a major producer announced that it would hold contracts flat this month. Two other producers then shocked the market by following up with an actual $0.03/lb decrease for May.