Overall spot resin prices were steady to a penny lower last week, with a surge in offerings with available material accumulating to levels not seen since May. Although many railcar asking prices were raised from the previous week, in part reflecting October price increase initiatives, buyers were not chasing the higher prices, said The Plastics Exchange (TPE) CEO Michael Greenberg. "For the second week in a row, national distributors and Houston exporters were aggressive," Greenberg said, "with sellers lowering prices and seeking orders, which is indicative of slack demand."
Energy markets moved in opposite directions again, as November crude oil prices fell further in volatile trading and several days saw ranges of $3-$4/bbl. The week ended at $89.88/bbl, with a net loss of $2.31/bbl. November natural gas futures added to their recent gains, adding another $0.076/mmBtu to settle at $3.396/mmBtu on Friday. The crude oil : natural gas ratio contracted again, shrinking to 26.5:1; it's tightest split since November 2011....