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Polypropylene prices have dropped significantly and may have hit bottom, while PE prices flattened out and face downward pressure from increased supplier inventories, lower feedstock prices, and soft demand.
Prices of four commodity thermoplastics rose in late January and early February, and new increases were announced for this month in PP, PE, and PVC.
Lower feedstock costs, ample material availability, and overall sluggish demand has driven prices down for the four commodity thermoplastics.
A sharp decline in U.S. energy prices and tabs for all key feedstocks, along with dismal-to-lackluster domestic and global demand, have brought significantly more attractive pricing for the four commodity thermoplastics and downward movement for four high-volume engineering resins.
Further price erosion is projected for at least this month, particularly in the case of polyolefins and polystyrene.
Combination of slowed global demand, build-up in resin suppliers’ inventories, and projected drops in feedstock prices are expected to provide some price relief at least through the second quarter.
Prices of commodity resins all moved up in the first quarter.