The Week in Chemistry: US PE resellers offload inventories amid strong trading, PP pricing flat amid lower input costs and restricted supply; ethylene ends March 8 at US$0.18625/lb.

LOS ANGELES , March 13, 2024 (Industry Intelligence Inc.) –

US Polyethylene 

Polyethylene trading activity had a strong week ended on March 8, according to The Plastics Exchange market update.

Prime PE prices were held flat after rising by a solid US$0.05-US$0.07/lb. since the start of 2024.

Inventories among resellers have decreased as resellers offload their warehoused materials.

The primary source of this information is The Plastics Exchange.

US Polypropylene

Strong demand led to a solid week of trading for PP during the week ended on March 8, The Plastics Exchange market update shows.

Sales of off-grade material exceeded prime resin, fueled by buyers in search of more attractive prices than their rising contract levels.

Invista joined the Braskem and Ineos in declaring a force majeure on PP resins, lending support to flat polymer prices despite their decreasing input costs.

Meanwhile, polymer-grade propylene could see further cost increases, posing a challenge to PP producers’ aim to advance a margin-boosting contract increase.

The primary source of this information is The Plastics Exchange.

US Ethylene

Below-average trading volume for US ethylene led to some easing of prices during the week ended on March 8, according to The Plastics Exchange market update.

Ethylene transactions for spot March on Monday were seen at US$0.19/lb. By the end of the week, spot ethylene was down by about a half cent to US$0.18625/lb.

The primary source of this information is The Plastics Exchange.

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