The Week in Chemistry: US PE, PP spot prices lower for week of July 4, North American chemical railcar traffic dips 3.1%; US government places sanctions on entities involved in illicit Iranian oil, petrochemical trade

LOS ANGELES , July 15, 2022 (Industry Intelligence Inc.) –

US Resins

US prime PE resin prices dip US$0.02/lb during the week of July 3 as resellers and processors de-stock inventories.

Prime PP resin prices fell US$0.03/lb as monomer costs decline and demand relaxes.

PE contracts for June settled at a rollover from May. 

Meanwhile, PP contracts lost US$0.10/lb in June, making for a total of US$0.17/lb lost in just two months.

The primary source of this information is Plastics Today.

US Sanctions on Iran

The US government on July 6 introduced new sanctions targeting companies involved in Iran’s exports of oil and petrochemical products to east Asia.

The sanctions specify 15 individuals and entities that are tied to ‘illicit’ trading activity that has resulted in millions of dollars in revenue.

The move is being called an attempt to increase pressure on Iran to resume nuclear talks.

The primary source of this information is S&P Global Platts.

North America Chemical Rail Traffic

North American chemical rail traffic decreased by 3.1% for the week ended July 9, according to data released by the Association of American Railroads. 

Chemical carloads decreased by 1,038 to a total of 30,163 during the week.

Volumes of petroleum and petroleum products fell by 378 carloads to 9,395.

The primary source of this information is MRC.

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