LOS ANGELES
,
January 26, 2024
(Industry Intelligence Inc.)
–
US Resins US spot resin trading during the week ended on January 19 accelerated, with a solid volume of offers and slightly higher prices, according to The Plastics Exchange market update. PE producers appear to be riding market conditions to support a US$0.05/lb contract increase nominated for January and February. While most PE production plants were not heavily impacted by freezing temperatures, prime PE grades are mostly about US$0.01-US$0.02/lb higher since the start of the year. Prime PP prices grew another penny higher in the past week, boosted by ongoing propane dehydrogenation outages and a force majeure from Ineos. PP contracts will likely follow polymer-grade propylene higher by about US$0.04-US$0.05/lb. The primary source of this information is The Plastics Exchange. US Ethylene Ethylene started the week of January 15 with strong pricing, bolstered by freezing temperatures that impacted supply, according to The Plastics Exchange market update. Spot ethylene for January traded in Texas on Tuesday at US$0.1925/lb., reaching US$0.195/lb later in the day. On Wednesday, deals were seen at US$0.1975/lb. By Friday, the market had lowered, bringing January ethylene deals to US$0.185/lb. The primary source of this information is The Plastics Exchange. US Propylene Propylene trading held a robust pace, but fell below typical weekly trading during the week ended on January 19 after freezing temperatures impacted the US Gulf, according to The Plastics Exchange market update. January’s weighted average for spot polymer-grade propyene increased by US$0.015/lb, reaching US$0.50/lb on Friday. January contracts are expected to rise by about US$0.04/lb to reach US$0.52/lb., based on spot pricing seen so far during the month. The primary source of this information is The Plastics Exchange.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
