PE & PP resin sales, while active, are still seeing processors hold back on purchases expecting more in the way of price improvement. PE buyers appear to be pushing for a complete retreat of the Sept increase. See full update here.
The commodity resin markets continue on their bumpy ride as demand weakened some for most grades of PE causing prices to retreat some from the Sept increase. PP prices relaxed as well with adequate supply and the expectation of off-line reactors returning to production allowing for downward pressure. See the Plastics Exchange update here.
IHS Global Plastics Summit 2016: Massive capacity overhang to drive down PE prices through 201810/11/2016
IHS Chemical Week article - 'During 2016-2018, global polyethylene capacity will grow much faster than demand, driving down prices and margins, particularly for low-density polyethylene (LDPE) and linear low-density polyethylene (LLDPE), according to Nick Vafiadis, global business director at IHS Chemical. “At least on paper, we’re looking at what could be a historic level of overbuild, assuming people keep to the start-up schedule we currently anticipate,” he said Thursday at the Global Plastics Summit 2016 in Chicago....' For access to article click here.
Plastics Today article - 'Consumer packaging giant Sonoco (Hartsville, SC) is investing significantly in its high performance film core production equipment at its plant in South Carolina. The investment will enable Sonoco to offer enhanced quality cores for film markets where constantly increasing quality standards are extremely vital to the integrity of the film.' See full article here.
PE and PP transactions appear to be fairly active to start the month according to the Plastics Exchange. See full update here.
Per the Plastics Exchange - 'Commodity resin prices were mixed; PE was mostly higher, while PP slipped amid heavy offerings. Producers have found success securing their $.05/lb PE price increase. There will be a varying degree of increases implemented for PP contracts, likely averaging around the $.04/lb sought by most producers.' See the full update here.
Although we took time off from updates, the resin markets remained very active. PE producers have implemented a $0.05/lb increase which they appear to be holding firm passing through. They, of course, have also nominated another increase for OCT - time and demand will tell if this effort firms up. PP also has seen price pressure based on rising feedstock costs. Ample supply may hamper further efforts to raise prices further however. See the Plastics Exchange update here.
Not much new to review with either PE or PP pricing. PE pricing is steady with processors hopes for relief still not realized. PP pricing has steadied after recent proactive price drops. See full TPE update here.
Per the Plastics Exchange - 'Polyethylene demand was good from both the processor and reseller sectors. Polypropylene buyers were mostly just out looking for special deals and they seemed patient. Spot resin prices were firmer; Polyethylene saw gains of $.005-.015/lb depending on grade. Polypropylene prices were mixed; Generic Prime gained a penny, while export and offgrade prices were pressured.' See update here.
Not much new to review per the Plastics Exchange - 'This past week, shortened by the US Independence holiday, ushered in the 3rd quarter, but spot resin market activity was slow to begin as many market participants took off for their summer vacation.' PE prices held firm, resisting processor's desires for some relief. PP prices firmed some as well after seeing a $0.10/lb decrease in the 2nd quarter. See update here.
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