Regional polyethylene prices are down an average of 7 cents per pound, while polypropylene prices have tumbled 10 cents and PVC prices have taken a 2-cent dip, according to buyers and market watchers contacted recently by Plastics News.
A summer heat wave has melted North American prices for polyethylene, polypropylene and PET bottle resin.
Since July 1, average selling prices for high, low and linear low density PE in the region are down 3 cents per pound, according to buyers and market watchers contacted recently by Plastics News.
Average PP prices have fallen 4 cents per pound in that same time frame, while average prices for PET are down 2 cents, sources said. These changes are reflected on this week’s PN resin pricing chart.
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.
The North American polypropylene market has been hammered with another double-digit price increase, this time sending prices up an average of 15 cents per pound since April 1.
PP prices are now at their highest-ever levels – numerous buyers have said – and are having a negative impact throughout the market.
Factoring in a 17-cent hike that hit the regional PP market in January — and a 5-cent price dip in March — North American PP prices now are up a net of 27 cents since Jan. 1. That’s an increase of more than 25 percent, based on the Plastics News resin pricing chart.
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