Temperatures weren't the only thing dropping in January. PET bottle resin fell an average of 1 cent for the month in North America, according to industry watchers.
The slide comes after a decline of 4 cents in December, another 6 cents for November and 1 cent in October.
Market watchers cited lower demand and improving supplies of purified terephthalic acid and other raw materials as reasons for the declines. Demand for bottle resin typically declines in the fall and winter months — the result of declining sales of bottled water and carbonated soft drinks.