The Week in Chemistry: US prime PE, PP spot prices see modest decreases in week of Jun. 20, US chemical railcar loadings for week ended Jun. 25 up 3.5% year-over-year; Eastman Chemical seeks approval for proposed US$850M molecular recycling site in Texas

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LOS ANGELES , July 1, 2022 () –

 

US Resins

US resin trading kept a rapid pace during the week of Jun. 20 as buyers took advantage of plentiful supply and more relaxed pricing.

Spot prices for prime PE and PP grades lost another couple of cents during the week as energy and feedstock costs decreased, along with negative market sentiment.

June PE contracts are generally rolling over from the previous month after a US$0.03/lb increase for many processors in May. Meanwhile, producers are still hoping for increases of $0.03-$0.05/lb–a decrease from original hopes for a $0.06-$0.09/lb increase.

PP prices continued to trend downward. Contracts for June are expected to drop by as much as $0.10/lb.

The primary source of this information is Plastics Today.

 

US Chemical Deliveries

Chemical railcar loadings decreased by 1.4% in the week ended June 25, according to data released by the Assn. of American Railroads.

However, loadings increased 3.5% year-over-year, while year-to-date loadings were up 5.2% year-over-year.

Loadings have been on the rise for about half of the last 13 weeks.

The primary source of this information is The American Chemistry Council.


Advanced Recycling

Eastman Chemical is planning a US$850 million molecular recycling facility in Texas City, Texas, according to official filings.

Construction of the facility, if approved would begin as early as Q4 2024 for completion by the end of 2025.

The site would have capacity for 150,000 tonnes/year of polyesters and mixed material made from recycled plastic waste.

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

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