TPE resin prices, Jan. 23-27: PE steady to up $0.02/lb; PP rises $0.03/lb; 'Hold on to your hats'


The prospect of higher prices in February had buyers seeking end-of-the-month resin-buying opportunities, pushing the spot-resin market into swift trading at the end of January, according to The Plastics Exchange (TPE). Average spot polyethylene (PE) prices were steady to $0.02/lb higher, while polypropylene (PP) jumped $0.03/lb last week amid limited material availability and soaring feedstock costs. Producers are resolved to implement the current $0.06/lb increase for January PE contracts, according to TPE, having already invoiced for the month, but popular consultancies have called the market steady to jsut $0.03/lb higher. Spot generic prime PE railcars are still available in the secondary market at $0.03 - $0.06/lb higher. PP contracts rolled flat in January but are poised to rise significantly in February on rising feedstocks and producer desire to expand margins.

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