Market overview: The spot resin markets saw some activity prior to the Thanksgiving holiday, which shortened the trading week. Spot-trading platform The Plastics Exchange (TPE) reported that after rising $0.05/lb on average earlier in November, polyethylene (PE) was mostly steady, while spot polypropylene (PP) edged up $0.005/lb to finish November up $0.02/lb. TPE CEO Michael Greenberg noted that market participants often look to lighten inventories at year end, making overall spot availability and interest limited, adding that tight supplies and relatively high feedstock costs are contributing to the firm undertone in the market at present.
Energy markets moved higher last week, when January crude oil futures bucked the strength in the U.S. dollar and rallied $1.78/bbl to settle at $83.76/bbl last Friday. January natural gas futures also rose, reaching above $4.50/mmBtu at one point, before falling back to end the week at $4.399/mmBtu. They finished the week...