LOS ANGELES
,
November 22, 2023
(Industry Intelligence Inc.)
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US Resins: Week Ended November 17 US PE trading during the week ended Nov. 17 saw solid activity as prices waned. Availability also improved as Nova Chem and Chevron Phillips Chemical lifted force majeures from production sites in Sarnia, Ontario, and Orange, Texas, respectively. Domestic contracts have been proposed higher for November and December, but increases are seen as unlikely due to healthy supply. PP trading, meanwhile, was slow due to weak demand that has trended during the month of November. Producers are likely to reduce operating rates further as demand slows. PP contracts increased US$0.085/lb. in September and October, with an additional small increase expected for November. The primary source of this information is The Plastics Exchange. US Monomers: Week Ended November 17 US ethylene trading kept a healthy rate during the week ended on Nov. 17, with prices rising to US$0.19625/lb. by the end of the week. Propylene also saw strong market participation, with Monday showing the heaviest volumes traded. December polymer-grade propylene traded on Friday at US$.04175/lb. The primary source of this information is The Plastics Exchange. US Chemical Rail Traffic: Week Ending November 18 US chemical rail traffic increased during the week ended Nov. 18 on a year-over-year basis, according to data from the Association of American Railroads. Chemical carloads totaled 69,630, up by 2,519 carloads. The primary source of this information is The Association of American Railroads.
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