PE mixed; PP up $0.02/lb: TPE resin pricing, Feb. 27-March 2


Spot plastics markets were busy and commodity grade prices mixed as February transitioned into March. Spot-trading platform The Plastics Exchange (TPE) reported that February polyethylene (PE) contracts settled with a $0.03/lb increase, while polypropylene (PP) contracts rose $0.165/lb early in the month. March resin prices are nominated to go higher with different levels of increases pegged to PE ranging between $0.03 to $0.10/lb, the latter representing the $0.03/lb not achieved in February plus an additional $0.07/lb. TPE CEO Michael Greenberg noted that it appears that a lone producer is seeking to "split the dime," asking for half the increase in March and the other portion in April. Polymer grade propylene (PGP) and corresponding PP resin contracts were initially nominated to increase $0.15/lb, but then again more recently at $0.07/lb.
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