Before we get too far into 2017, let's recognize the winner of the 2016 LVCR Award — the Least Volatile Commodity Resin!
PET bottle resin takes home the prize for 2016, with North American prices recording only 11 cents of total volatility — the combination of price increases and decreases registered for the year. PET edged out PVC (13 cents) and polystyrene (14 cents) for the honor.
Farther down the list was polyethylene at 22 cents and polypropylene bringing up the rear with 31 cents of total volatility. PET's low volatility made buyers of the material a little more relaxed in 2016. PP buyers weren't as lucky, jumping at the slightest noise and crying out at the sight of every new email.
PET's 2016 LVCR performance was a welcome change from 2015, when the material saw 36 cents' worth of price movement, second to only PS with 41.
PVC took LVCR honors in 2015 with a mere 8 cents of total volatility. Buying PVC in 2015 was an absolute pleasure.
And although it's way too early to tell who the favorite is for the 2017 LVCR Award, things already aren't looking good for PP, which has seen 16.5 cents of volatility in only two months. Might not need to clear space on the mantle just yet.