TPE resin prices, August 20-24: PE up $0.01-$0.02/lb; PP rises $0.005/lb; Isaac threatens to further restrict resin inventories


Polyethylene (PE) and polypropylene (PP) maintained their upward momentum with gains seen in both in the spot commodity resin markets. Spot-trading platform, The Plastics Exchange (TPE) noted that higher prices are supported by tight upstream supplies, rapidly rising spot monomer costs, and the potential for hurricane-induced damage and interruptions to petrochemical production in the Gulf of Mexico. PE producers are implementing a price increase in August, most have remained firm at a nickel, despite a lone producer easing its increase to just $0.03/lb. Polypropylene (PP) producers are passing along their $0.015/lb savings in polymer grade propylene (PGP) contract monomer costs in the form of reduced PP contract prices in August. The recent rally in North American resin prices is complicating high-volume export opportunities, according to TPE CEO Michael Greenberg.
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