TPE resin pricing, July 11-15: PE steady/lower; PP falls $0.015/lb; buyers push for second straight month of lower contracts


Spot resin trading activity improved and polypropylene rose $0.015/lb after a slow start to July, although fresh material offerings remained modest, with much of the discretionary material shipped offshore into what's become a rising export market. Spot-trading platform, The Plastics Exchange (TPE) noted that there has been some price consolidation with the low end of the Houston area market "cleaning up", while top-end domestic contract prices experienced some pressure. The third attempt to implement the $0.05/lb polyethylene price increase in July seems likely to fail, and TPE believes there is a good chance that contracts will actually be marked lower. Polypropylene (PP) contracts will drop $0.04/lb commensurate with the change in polymer-grade propylene (PGP) contracts, in the meantime, spot PP prices rallied $0.015/lb last week.
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