Spot polyethylene fell again last week, dropping $0.01-$0.03/lb, while polypropylene prices shed another $0.03/lb. The Plastics Exchange (TPE) said the spot resin markets saw another week of heightened trading activity, with a consistent flow of lower priced offers prompting processors to step in and buy. The complete implementation of the $0.05/lb polyethylene price increase is unlikely, but a reduced increase of $0.03/lb for high-density PE is still possible. June polypropylene contracts are falling $0.15/lb along with polymer-grade propylene (PGP) monomer contracts.
Energy prices were sharply lower and the front month futures contract began to roll. August crude oil futures dropped $6.45/bbl to settle at $93.40/bbl on Friday-the lowest close since January. August natural gas futures plunged $0.429/mmBtu, about 9%, to end the week at $4.36/mmBtu, which was far off the previous week's high of $5.00/mmBtu. The crude oil : natural gas price ratio ended the week at 21.4:1....