Just a month ago, the resin market was essentially in free fall. That changed dramatically, as strong exports, reduced production, and a rapidly recovering oil market moved polyethylene prices higher while polypropylene held steady, according to...
Many processors tapped the spot market, fearing that this would be their last chance at these stellar prices. Others decided to wait, not because of price, but rather uncertainty regarding future business.
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.
Trade flow from both buyers and sellers was fluid last week and transacted volumes rivaled the average tally seen during the strong first quarter of 2020, reports the PlasticsExchange in its Market Update.