The Week in Chemistry: US PE, PP spot prices hold steady amid average trading pace during week of Aug. 14, ethylene deals seen at US$0.175lb., polymer-grade propylene deals range US$0.31-US$0.34/lb; naphtha prices rise amid tight supply in Europe, Asia

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LOS ANGELES , August 25, 2023 () –


US Resins: Week ended Aug. 18

US spot resin trading during the week ended on August 18 held a pace that is overall considered average, keeping PE and PP prices flat, according to the latest Pastics Exchange market update.

Commodity PE resins kept their US$0.02/lb rise over July’s market low, supported by relatively good trade flows.

PE exports also saw a healthy rate of trading, supported by feedstock cost advantages for North American producers. Rising exports in recent months have raised the possibility that they will outpace domestic market sales by the end of 2023.

Meanwhile, PP trading ran at a more robust pace than PE, bringing off-grade resin pricing up by at least US$0.05/lb since cycle lows.

The primary source of this information is The Plastics Exchange.


US Olefins: Week ended Aug. 18

US ethylene transactions for August were seen three times at US$0.175/lb., according to the Plastics Exchange market update.

Spot prices increased nearly 5% week-on-week, ending the week of August 18 at US$0.18/lb.

Polymer-grade propylene’s first deal of the month was confirmed on August 14 at US$0.31/lb. Deals for September were completed at US$0.3225/b. on the same day.

Later in the week, Q4 deliveries were heard at US$0.34/lb.

The primary source of this information is The Plastics Exchange.

Global Naphtha

European naphtha prices have been rising since the start of August, a result of tight availability in both Europe and Asia, according to sources.

Adding to the supply tightness, refinery maintenance in Russia has dampened exports headed to Asia. However, European traders believe supply will be more in line with demand after maintenance season comes to a close.

Naphtha demand from the petrochemical sector is expected to remain weak as operators opt for competitively priced LPG.

The primary source of this information is S&P Global Platts.


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