LOS ANGELES
,
February 9, 2024
(Industry Intelligence Inc.)
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US Resins, Week Ended Feb. 2 Spot resin trading in January yielded solid results, showing improvement compared to January 2023, according to The Plastics Exchange market update. Spot PE trading gained momentum by the end of January, resulting in higher asking prices at the start of February. The PE market also saw healthy demand out of Latin America, where buyers are seeking alternative sources due to supply chain disruptions from the Middle East and Asia. Spot prime PE prices are up by about US$0.03/lb. since mid-December and are holding their upward momentum. PP trading during the week ended on Feb. 2 continued at a brisk pace amid strong demand, allowing prices to recover from a decrease of US$0.015/lb a week earlier. January contracts followed polymer-grade propylene US$0.03/lb higher, with producers seeking an increase of US$0.04/lb. for February. The primary source of this information is The Plastics Exchange. Ethylene trading during the week ended on Feb. 2 ran at a healthy level, though slightly more subdued than in previous weeks, according to The Plastics Exchange market update. Ethylene deals for Q2 traded on Monday at US$0.195/lb. The primary source of this information is The Plastics Exchange. Propylene prices started the week of Jan. 29 higher amid complications at propane dehydrogenation units. January polymer-grade propylene deals were seen on Friday at US$0.50/lb, an increase of about a cent and a half from the previous Friday. February deals were also seen at US$0.50/lb, in line with the spot weighted average for the week. The primary source of this information is The Plastics Exchange.
US Ethylene, Week Ended Feb. 2
US Propylene, Week Ended Feb. 2
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