TPE resin prices, Sept. 17-21: PE up $0.005/lb; PP steady; Domestic sales reach levels not seen since 2007

09/26/2012

Spot resin markets were mostly steady to a half-cent higher in moderate trading. Spot-trading platform, The Plastics Exchange (TPE), said that railcar offerings continue to run at a below average pace and resellers' inventories are also on the light side. Processors needing spot material are reluctantly bidding up the market to get material, but September resin contracts are seeing very little movement. Polyethylene (PE) contracts are mostly steady, although buyers who only went up $0.03/lb in August are paying $0.02/lb more this month. Industry-wide contracts have now risen $0.05/lb for August and September. It looks like PP contracts are increasing just $0.01/lb in September, which was on the low side of expectations. Polymer grade propylene (PGP) was initially nominated to increase $0.025-$0.04/lb.

Energy markets fell in volatile trading as November began rolling to the front month. November crude oil futures bounced off the week's low of $91.55/bbl to settle at $92.89/bbl on Friday, for a net loss of $6.44/bbl. November natural gas futures, which have been priced at a premium to October, shed $0.012/mmBtu to end the week at $3.071/mmBtu. The crude oil: natural gas ratio contracted to 30:1....
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