TPE resin prices, April 23-27: PE steady/lower; PP down $0.02/lb; spot deals abundant as April closes

02/05/2012

Spot resin trading remained challenging last week, as the stream of offers continued to flow at a heavy rate and prices were steady to mostly lower. Spot-trading platform The Plastics Exchange (TPE) noted that despite price increase nominations, April resin contracts for both polyethylene (PE) and polypropylene (PP) rolled flat. Overall market sentiment has turned negative and buyers are limiting purchases, targeting deeply discounted offers as needed since they anticipate lower prices ahead, according to Michael Greenberg, TPE CEO. Resellers, especially those caught with relatively high levels of uncommitted inventory, are chasing the bids even as they fall. Resin offers from Asia and the Middle East are hurting export demand, which is currently insufficient to clear the growing overhang of North American supply.
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