AKRON, OHIO (Nov. 29, 1:15 p.m. ET) — North American prices for polypropylene and PET bottle resin have continued to climb in recent months. PP prices have jumped up an average of 4 cents per pound since Nov. 1, following a similar increase in price for propylene monomer feedstock. For PET, tightness in feedstock supplies have sent prices up an average of 9 cents per pound since Sept. 1. A 5-cent September increase was followed by increases of 2 cents in both October and November.
North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.
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