Supply shortfall continues in PP even as prices ease
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The North American polypropylene resin market had another surprising month in April, with prices falling an average of 7 cents per pound even as demand remained high.
Prices for PET bottle resin also continued their steady rise, moving up an average of 2 cents per pound in April.
The 7-cent drop for PP was the result of a 13-cent decline in price for polymer-grade propylene (PGP) feedstock, combined with 6 cents in margin improvement won by regional PP makers.
Although demand for PP remained high, PP production in the region still hasn t returned to its levels before Winter Storm Uri hit Texas in mid-February, temporarily knocking out almost 90 percent of PP production. As a result, less propylene was consumed both in April and March. PGP fell 18.5 cents, with PP down 12.5 cents, with producers again gaining 6 cents in margin.
PE, PVC, PS resin prices continue to climb
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North American prices for polyethylene, PVC and solid polystyrene have continued to rise in 2021, with each material showing increases since April 1.
Selling prices for several engineering resins also have climbed since the start of the year. All of these changes are shown on this week s
Plastics News resin pricing chart.
Regional PE prices surged an average of 9 cents per pound since April 1. Supplies of the material remain tight as producers look to recover from outages caused by Winter Storm Uri in February.
PE prices now are up a total of 28 cents so far in 2021 and are up 48 cents since January 2020. PE makers are seeking increases of 5-6 cents per pound for May.
PP prices down, other commodities up in a turbulent March
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Polypropylene was the odd resin out in March, with North American prices falling, while prices for other commodity resins in the region saw increases.
PP prices fell an average of 12.5 cents per pound in March. Demand for the material remained strong across many end markets. The price decline was the result of a demand drop for propylene monomer feedstock.
Propylene demand was down as many PP resin plants were struggling to come back from outages caused by Winter Storm Uri, which hit Texas in mid-February. Regional propylene monomer prices were down 18.5 cents per pound in March.
Rosales joins RTI as CEO, president plasticsnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from plasticsnews.com Daily Mail and Mail on Sunday newspapers.
New president and CEO for purchasing consultancy RTi
The Fort Worth, Tex.-based firm has named Robert Rosales as its new head, replacing outgoing president and CEO Pete Suerken. March 16, 2021 Canadian Plastics
Robert Rosales. Photo Credit: Resin Technology Inc.
Fort Worth, Tex.-based purchasing consultancy Resin Technology Inc. (RTi) has named Robert Rosales as its new president and CEO, replacing outgoing head Pete Suerken, who is leaving the company.
Prior to joining RTi, Rosales co-founded Haven Management Group and Haven Sales & Marketing, which provided consulting services in the areas of marketing, innovation, consumer insights, commercialization, business strategy, and sales support to foodservice and retail food manufacturers. In a March 16 statement, RTi officials noted that Rosales has held a range of leadership positions with Procter & Gamble, Frito Lay, and ConAgra Foods, “managing businesses spanning more than one hundred categories a