Plastics News – PET resin prices still soaring; PVC hikes smaller but ambitious

Plastics Apr 08, 2011 No Comments

PET prices shot up an average of 8 cents per pound in February and another 5 cents per pound in March for a two-month leap of 13 cents per pound. Producers had been seeking a total of 16 cents for those months, and some buyers reported paying more than the 13-cent average. This big move came after PET prices surged 16 cents per pound in late 2010.

AKRON, OHIO (April 7, 5:30 p.m. ET) — North American prices for PET bottle resin have continued their dizzying upward climb in early 2011.

Average selling prices for suspension PVC also ended a flat period by climbing in March. Both the PET and PVC moves are reflected on this week’s Plastics News resin pricing chart.

PET prices shot up an average of 8 cents per pound in February and another 5 cents per pound in March for a two-month leap of 13 cents per pound. Producers had been seeking a total of 16 cents for those months, and some buyers reported paying more than the 13-cent average. This big move came after PET prices surged 16 cents per pound in late 2010.

In a recent report — written even before the March price increase took hold — officials at Chemical Market Associates Inc. in Houston said current PET prices are at “the highest level ever, even exceeding the hurricanes of 2005 and the peak in crude oil prices in July of 2008.”

The PET market is being rocked by extremely high prices for feedstocks such as paraxylene and purified terephthalic acid. In their report, CMAI officials said limitations for these and other raw materials have made it “nearly impossible for consumers to pre-buy” PET resin.

via Plastics News – PET resin prices still soaring; PVC hikes smaller but ambitious.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.