Polyethylene (PE) buyers confirmed a $0.06/lb rise in April contracts, while most polypropylene (PP) buyers endured a $0.15/lb jump, as rising energy and feedstock prices worked their way through to resin contracts. Spot-trading platform The Plastics Exchange noted that resin market activity slowed some from the fervent pace seen during the first half of the month, but resin prices resumed their upward trek amid light spot offerings and continuously rising energy and feedstock costs. That upward pressure remains, according to TPE, as producers seek to lift commodity resin prices again in May.
Energy Markets: U.S. energy prices rallied as June futures contracts rolled to the front month. Crude oil futures recouped much of the previous week's losses jumping $2.07/bbl higher to end the holiday shortened week at $112.29/bbl. June natural gas futures had another week of near 4% gains, rising $0.202/mmBtu to $4.466/mmBtu. The crude oil : natural gas price ratio expanded out to 25:1, more than four times the ratio considered parity. This gap continues to provide integrated North American PE producers a huge cost advantage over most international PE producers that derive their feedstocks from naphtha and the crude oil chain....