I don't want to jinx anything here, but it looks like polypropylene resin prices are finally about to ease up.
As Frank Esposito writes in the latest pricing news, current PP prices in North America are down average of 7 cents per pound after seeing a 16-cent rise earlier this year and a massive 61-cent climb from late 2020 into 2021, prompted by shutdowns at resin plants in Texas from an ice storm.
There have been decreases to PP prices since then, but one industry executive says new PP capacity coming online this year may finally signal an overall easing, combined with lower polymer-grade propylene prices.
"Barring weather events, this is the last hurrah," one resin distribution executive told Frank. "I doubt [PP makers] will get another increase in 2022. We get to see if the price down is a slow glide or just a quick falloff."
Expect more details from Frank in this month's Polymer Points Live webcast June 16, free for PN subscribers.