The industry has adjusted pricing after the drop in price of crude oil. However producers continue to push margin increases through to customers. Announced margin increases:
ExxonMobil $0.02 April 1, 2015.
Total Petrochemicals $0.05 March 1, 2015.
LyondellBasell $0.03 April 1, 2015.
March propylene monomer settled down $0.015 cpp to $0.72 cpp.
The blow molding market is still tight with force majuers announce by two producers.
Producers have managed to get an increase of $0.10 per pound through December and January.
In February monomer settled down $0.01 per pound to $0.735 and many industry experts believe the price will continue downward until June.
Producers have all announced $0.04 per pound and the market appears to be taking the increase.
Propylene monomer settled up $0.04 per pound to $0.745 for January 2014.
Producers have been successful in getting an increase of $0.08 per pound for December and January.
The spot market for polyethylene appears to be stable with no major changes in pricing since last week. Nonetheless, the current scenario is looking quite bullish with rising ethylene prices and tight resin availability, so as we get deeper into the month, the more it looks like prices will stay flat for December.
On the other hand, the PP market has seen more noticeable changes with PGP spot prices jumping up to 71 cts/lb last week on the back of heavy buying demand and tight supply. The same upward trend is being seen in the spot PP market. Overall, everything seems to be pointing toward another significant price increase in January.
Polystyrene will increase in December by $0.04 per pound.← Older posts