LOS ANGELES
,
February 16, 2024
(Industry Intelligence Inc.)
–
US PE spot prices during the week ended on February 9 continued to climb across all grades, according to The Plastics Exchange market update. A solid trading pace and tighter spot availability and a strong export market fueled price increases. North American PE producers will likely continue with high operating rates due to export demand from across the globe, owing to the cost advantages of the natural gas-based ethylene chain. The primary source of this information is The Plastics Exchange. PP spot prices increased by another US$0.02/lb. amid rising monomer costs and limited supplies of certain grades. Producers have kept operating rates scaled back in efforts to avoid the compressed margins seen in 2023 due to excess production and reduced demand. As a result, a sought-after US$0.04/lb contract increase for February could be implemented. The primary source of this information is The Plastics Exchange. US Ethylene US ethylene spot prices for February traded in Louisiana at US$0.1975/lb. on Feb. 6, an increase of about half a cent, according to The Plastics Exchange market update. The weighted spot average ended the week on Feb. 9 at about US$0.195/lb. The primary source of this information is The Plastics Exchange.
US Polyethylene
US Polypropylene
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