Weekly resin update: Processors irked by rising PP prices, even as feedstock costs plunge

02/08/2016

The good news is that January was the best month of 2016 so far in terms of spot resin deals, facetiously writes the PlasticsExchange, adding that it's nice to see the month in the rear-view mirror.

It was a difficult month for putting together transactions, as pricing was very sensitive, reports the PlasticsExchange in its market update for the week of Jan. 25: "We conscientiously helped suppliers limit their losses as they sold off old inventory, while still serving our faithful processors with deeply discounted resin." Polyethylene (PE) prices have fluctuated to keep export outlets open, while optimizing producer netback. There is a log-jam again—packaging warehouses are full of material awaiting shipment.
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