Since May 1, regional prices for PP have climbed an average of 10 cents per pound, according to buyers and sellers contacted recently by Plastics News. It’s the third time already this year that prices have absorbed a double-digit monthly increase. The previous double-digit spikes were of 17 cents in January and 15 cents in April.
Regional polypropylene prices now are up a net of 37 cents per pound since Jan. 1, driving PP prices to an all-time high. The May increase was tied in to a jump of 9.5 cents per pound on propylene monomer feedstock. Propylene supplies have tightened in the short-term because of production issues in the Gulf Coast, and in the long-term because of increased use of natural gas-based feedstocks, which produce less Propylene than crude oil-based feedstocks.
via Plastics News – Polypropylene prices up 10 cents per pound; PVC up 8 cents.