During the dot-com business bubble of the late 1990s, I recall a business news show opened its rehashing of the latest stock market record with "stop me if you've heard this before."
It feels the same way these last couple of years when it comes to rising resin prices and supply shortages, starting with the big demand for grocery store packaging that made it hard to find some polyethylene and PET grades while the booming sales in plastic barriers had acrylic and polycarbonate in short supply. (You'll be able to read more about that in next week's issue of Plastics News.)
The rest of 2020 would bring us shortages related to damage in Louisiana from two hurricanes, while early 2021 brought the shock to the system from Texas' ice storm and power outages. And don't forget the problems with simply getting finished resin from Point A to Point B.
Every time conditions seem to get a little easier, something else pops up.
Currently, the Ukraine invasion has driven up prices for both crude oil and natural gas, impacting production costs for resins. So what's hitting hardest right now?
"It's all of the above," one PET market watcher told PN's Frank Esposito in his latest breaking news story on pricing changes.