Major PP price hike featured

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AKRON, OHIO — A big hike in North American polypropylene prices is featured in this week's Material Insights video.

PP prices in the region have moved up an average of 15 cents per pound since Jan. 1, according to buyers and sellers contacted by Plastics News. Higher prices for propylene monomer feedstock — caused by tightened supplies — played a big role in the hike.

A 3-cent hike for polystyrene and a 1-cent drop for PVC in the region also are featured in this week's video. The PS hike was tied into higher prices for benzene feedstock, which have been on the rise since September. In PVC, slower demand from the winter construction season led to the 1-cent December drop.

The video wraps up with news that Nova Chemicals Corp. has restarted its LDPE plant in Mooretown, Ontario. The plant had been shut down for more than a year. Its restart is part of Nova 2020, the firm's plan to capitalize on emerging feedstock opportunities.