LOS ANGELES
,
July 21, 2023
(Industry Intelligence Inc.)
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US Resins US commodity resin market activity picked up during the week ended on July 14 as processors made purchases based on current need as well as additional inventories. PE resin grades lost about US$0.01/lb, resulting in spot levels down by about US$0.05/lb so far in 2023. Meanwhile, PE contracts have risen by a net US$0.03/lb for the year. Production remains 3% higher than the trailing 12-month average, with slightly above-average domestic sales and record exports, according to figures released by the American Chemistry Council. PP spot prices were flat during the week ended July 14 amid lackluster trading, which resulted in below-average volumes. Typical PP production sits at around 75% capacity, according to data released for June. The primary source of this information is The Plastics Exchange. US ethylene prices are seen rising modestly into 2024, based on delivery agreements that settled at US$0.18875/lb. Several transactions for August 2023 were seen at SU$0.17/lb. Meanwhile, July spot polymer-grade propylene averaged about a half cent lower at US$0.3225/lb., backed by the unreliable interest seen during the week ended July 14. Polymer-grade propylene contracts in July settled at US$0.35/lb. The primary source of this information is The Plastics Exchange.
US Olefins
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