LOS ANGELES
,
May 27, 2022
(Industry Intelligence Inc.)
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US Resins Spot prices for US PE and PP resins held steady during the week of May 16, but face downward pressure amid lower input prices and weaker sentiment. PE contracts appear unlikely to achieve the sought-after US$0.06/lb price increase for May, after a similar increase failed in April. Meanwhile, PP buyers are awaiting price relief of about $0.10/lb directly related to lower monomer costs. The decrease will be partly offset by producers’ proposed contract increase of $0.06/lb for enhanced margins. The primary source of this information is Plastics Today. India PVC India PVC prices will likely be weighed by the country’s decision to reduce import duties from 10% to 7.5%, sources said on May 23. The decision is a bid to reduce the cost of final products as the country battles inflation, according to finance minister Nirmala Sitharaman. However, PVC producers say cheaper imports could pinch margins for domestic manufacturers, resulting in a negative impact on capacity additions in the long run. India’s PVC production capacity has been stagnant at about 1.6 million tonnes for the last decade. CFR India PVC was assessed at US$1,400/tonne on May 18, a 26% decline from a high of $1,900/tonne in October 2021. The primary source of this information is S&P Global Platts.
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