April 5, 2024 (Industry Intelligence Inc.) –
US Polyethylene
Strong PE trading during the week ended on March 29 as sellers released discounted inventory near the end of the quarter, according to The Plastics Exchange market update.
The highest volumes traded were in LLDPE film and injection grades, followed by HDPE blow molding grades.
Spot prices ended the month of March down by a net US$0.01/lb.
Producers sold nearly half of PE to export markets.
The primary source of this information is The Plastics Exchange.
US Polypropylene
Polypropylene trading followed a similar pattern to PE during the week to March 29 as sellers offloaded supply.
Benchmark homopolymer and copolymer PP prices fell by another US$0.02/lb, the bringing three-week total decrease to US$0.06/lb.
March PP contracts to rise in line with the US$0.03/lb. increase upcoming for polymer-grade propylene, though markets anticipate a decrease in April.
The primary source of this information is The Plastics Exchange.
US Monomers
An active spot monomer market during the week to March 29 led to solid ethylene trading and even stronger propylene activity, The Plastics Exchange market update shows.
Spot March ethylene traded on Monday at US$0.1925/lb. and came to rest at the same level by Thursday.
April ethylene deals traded at US$0.19125/lb.
Spot March polymer-grade propylene was traded twice on Monday at US$0.50/lb., a decrease of US$0.06/lb compared to the previous week’s settlement.
On Thursday, spot polymer-grade propylene for March traded several times at US$0.45/lb., April deals were seen at US$0.45125/lb. and May trades were done at US$0.44875/lb.
The weighted spot average for March settled on Thursday afternoon at US$0.555/lb.
March contracts increased by US$0.03-US$0.58/lb.
The primary source of this information is The Plastics Exchange.
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