LOS ANGELES
,
October 13, 2023
(Industry Intelligence Inc.)
–
US Resin Trading: Week Ended Oct. 6 Strong domestic demand led to active spot resin trading in the US during the first week of October, according to The Plastics Exchange market update. Export demand was also robust, resulting in large PE transactions to Europe and Latin America, with smaller PP transactions in Mexico. Most PE grades were traded at high volumes, with HDPE blow molding grades and LDPE/LLDPE film grades taking center stage. Meanwhile, LLDPE injection, granular and rotomolding grades were among the more challenging materials to source. PP pricing faced upward pressure as polymer-grade propylene hovered at an elevated US$0.40/lb. The impending cost-related price hikes for PP sent buyers to the spot market for discounted rates before October contracts settle. LyondellBasell has proposed a US$0.03/lb price hike for October, surpassing the rise in monomer costs. The primary source of this information is The Plastics Exchange. US Monomers Trading: Week Ended Oct. 6 Spot ethylene deals for the second half of 2024 concluded Monday at US$0.215/lb, while Q4 2023 deliveries settled at US$0.2175/lb., according to The Plastics Exchange market update. By Thursday, prices eased somewhat with ethylene deals in Louisiana seen at US$0.2075/lb. Spot propylene for October delivery traded on Monday at US$0.415/lb for polymer grade. However, prices eased later in the week, with October and December polymer-grade propylene trading at US$0.40/lb early on Thursday. Pricing eased further later in the day at US$0.3975/lb. The primary source of this information is The Plastics Exchange. North American Chemical Rail Traffic: Week ended Oct. 7 North American chemical rail traffic increased 5.1% year-over-year to 43,987 loadings for the week ended October 7, according to data from the Association of American Railroads. Year-to-date, chemical rail traffic fell 1.2% year-over-year to 1,813,212 loadings. US rail traffic fell 2.4%. The primary source of this information is MRC.
* 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.
