The extreme cold, along with power outages throughout Texas, is continuing to hit industries as well as residents not only in the state but throughout the Gulf Coast region and across the border in Mexico.
Frank Esposito is keeping track of conditions along the Gulf Coast, which is home to several resin production sites. Many of those locations have had to shut down or reduce production, which will add to shortages and production that have pushed resin prices higher for the past few months.
"It's probably going to be [Feb. 22] until we really know where we stand," one resin company executive told Frank.
Power and natural gas supply problems from Texas are rippling down to manufacturers along the border, too. PN correspondent Stephen Downer writes that Index, the trade association for maquiladora plants, says one company lost US$10 million worth of production on one day alone, "and that does not include the damage done to its manufacturing equipment." Companies "cannot plan production or workers' shifts" because of the unreliability of the electricity supply, Index said.
We'll keep you updated on conditions.