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Upward pricing momentum persists, but some caution that the spread of coronavirus could bring a significant economic headwind and damage demand, reports the PlasticsExchange (Chicago) in its Market Update.
There is good momentum for prices to continue to move higher, as long as there is no new market shock or major acceleration in the spread of the coronavirus, according to the PlasticsExchange (Chicago).
Continued strong demand for low-density (LD) and linear-low-density (LLD) polyethylene (PE) resins raised prices by $0.01 to 0.02/lb last week, reports the PlasticsExchange (Chicago). High-density PE prices held flat.
Select grades of polyethylene (PE) and polypropylene (PP) resins were challenging to source last week. Most low-density PE film grades have been outright scarce, commanding a healthy premium, especially for immediate availability.
Prices gained a cent and then gave it back as tensions subsided, but the proverbial bloom was off the rose, which highlighted the very real geopolitical risks that can affect our energy-derived resin markets.
Most commodity resin prices fell sharply during 2019, but the variance among grades also highlighted distinct differences in sub-markets. High-density polyethylene resins eroded $0.12 to 0.14/lb over the course of the year, while low-density film...