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.
Resin prices continue to hammer processors in 2021
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Resin buyers hoping to ease into 2021 had a rude awakening, as a series of price hikes have taken hold in North American markets for polypropylene and other commodity materials.
PP prices have surged an average of 13 cents per pound since Jan. 1, after jumping 14 cents in December. The eye-popping two-month total of 27 cents in increases has led some processors to issue price surcharges on PP-finished products.
Regional prices for polyethylene are up an average of 5 cents per pound since Jan. 1, with PVC prices up 4 cents and prices for solid polystyrene up 5 cents, according to buyers and market sources contacted recently by