Price hikes bring resin buyers a less than happy new year in January
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The resin price hikes that complicated the end of 2020 kept on rolling right into the first month of 2021.
North American polypropylene prices absorbed the heaviest blow, surging an average of 13 cents per pound in January, after jumping 14 cents in December. That two-month total of 27 cents in increases has led some processors to issue price surcharges on PP-finished products.
And more PP price hikes could be on the way, as prices for polymer-grade propylene monomer feedstock continue to rise, recently topping 80 cents per pound. Regional PP prices now are up 46.5 cents per pound since May.