Three North American commodity resin prices are showing increases in January, including a 3-cent-per-pound hike for polystyrene.
Senior reporter Frank Esposito covered the latest pricing moves in the January Polymers Points editorial livestream. The livestream was originally scheduled for Jan. 21, but was rescheduled for Jan. 30, which Esposito noted allowed him to give updates on January pricing for more resins. Watch the recording below.
“We’re farther along in the month, so we have a more clear picture what to expect for January. Unfortunately, it’s not what resin buyers want to hear. But it seems like prices are going up for three materials this month,” Esposito said.
“The one that we can confirm now, for sure, is polystyrene is up an average of 3 cents a pound for the month. That was tied to a bump up in benzene,” which is a PS feedstock.
Restocking and rising seasonal demand are also driving price increases.
PET and polypropylene prices also are expected to be up for the month, Esposito said, although the exact numbers are not sure at this point. PET is likely to be up about 4 cents per pound, and PP up between 4-6 cents.
Polyethylene and engineering resins appear to be flat, although it’s still early to call the January PE price.
The next Polymer Points Live is scheduled for Tuesday, Feb. 18.