Resin Pricing

Processors flocked to the spot resin market seeking material last week, but demand outstripped supply, causing prices to spike.

By the end of last week, polypropylene prices had jumped a huge $0.05/lb, while polyethylene tacked on $0.01 to 0.02/lb.

If good deals show up in the first half of December, the PlasticsExchange recommends taking them, rather than banking on deeper end-of-year discounts.

Many processors were hoping for a significant year-end price break from late-October highs, while resellers reluctantly restocked at still lofty levels.

Demand was tepid last week: Buyers in need of material have reduced their volumes in hopes that prices will continue to slide as the end of the year approaches.

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Slack demand and signs of improving supplies sent spot PE prices back a cent, marking the first weekly decrease since the end of April.