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.