Changes to demand and feedstock costs sent North American prices for several commodity resins lower in November. Meanwhile, feedstock tightness has sent regional prices for nylon 6 resins in the other direction since August.
Regional polypropylene prices took the biggest slide, declining by an average of 6 cents per pound. All grades of polyethylene in the region saw prices dip by 3 cents, while average selling prices for solid polystyrene and suspension PVC each were down an average of 2 cents per pound, according to market sources recently contacted by Plastics News.
PP prices settled downward for the second straight month after falling 1.5 cents per pound in October. Prices continue to fall as inventories of propylene monomer feedstock grow, sources said. Prior to these two price drops, prices had soared a total of 9.5 cents per pound in August-September as inventories tightened. Taking into account prior increases and decreases, regional PP prices now are down a net of 4 cents per pound since Jan. 1.
North American PP sales essentially were flat in the first 10 months of 2016, according to the American Chemistry Council. Domestic sales were down almost 2 percent for that period, while export sales surged almost 49 percent.