LOS ANGELES
,
March 8, 2024
(Industry Intelligence Inc.)
–
U.S. Polyethylene PE traded at a swift pace during the week ended on March 1 with a mix of domestic and export sales, according to The Plastics Exchange market update. All commodity PE resins increased by a cent on the spot market, bringing 2024 gains to a total of US$0.05-US$0.07/lb . Some producers have lowered their proposed contract increases for February to US$0.03/lb. A similar increase is on the table for March. The primary source of this information is The Plastics Exchange. PP trading softened as prices continued to follow monomer costs higher, according to The Plastics Exchange market update for the week ended on March 1. Buyers appeared able to resist purchases at higher prices owing to strong purchasing activity earlier in February. Prime spot PP prices ended the week at a US$0.04/lb. increase, though polymer-grade-propylene prices increased at an even more aggressive US$0.07/lb. Upward pricing pressure is likely to continue as force majeure declarations persist. Producers have proposed a March contract increase of US$0.02-US$0.03/lb. on top of any polymer-grade propylene increases. The primary source of this information is The Plastics Exchange. U.S. Monomers Propylene and ethylene markets saw solid trader participation in the week ended on March 1, with propylene slightly outpacing ethylene, according to The Plastics Exchange market update. Ethylene deals inched higher during the week, reaching US$0.19/lb. on Wednesday. Prompt pricing ended Friday with nearly a half cent increase to US$0.19125/lb. Polymer-grade propylene increased as the week drew to a close, with several deals done at US$0.60/lb. February contracts for polymer grade increased by US$0.04, hitting US$0.55/lb. The primary source of this information is The Plastics Exchange.
U.S. Polypropylene
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