Forecast

This time, the limits affect production at Nova's St. Clair River site in Corunna, Ontario.

A spokesperson said that "to ensure the long-term resilience of [the firm] amid continuing global economic uncertainty and a trough in the chemical industry business cycle, we have made the difficult decision to implement an extended idling of one of our [PP] production lines" in Marcus Hook.

The shutdown at Port Arthur, Texas, could impact markets for plastics feedstocks ethylene, propylene and butadiene, all of which are made at the site.

PET bottle resin pricing was up in July, but not as much as you might expect considering the heat wave hitting much of North America. We cover the latest pricing news in Material Insights, plus Frank Esposito offers opinions on near-term pricing for polyethylene, polypropylene, polystyrene, PET, PVC, polycarbonate and other resins.

In the first six months of 2023, the U.S. became China's largest source of imported linear low density polyethylene resin, helping keep the U.S. market balanced for that material.

Resin market analysts say there are few indications that prices will radically change in the coming months due to decreased demand at home and reduced production in China, leading to fewer exports.

Frank Esposito offered opinions on near-term pricing trends for polyethylene, polypropylene, polystyrene, PET, PVC, polycarbonate and other resins in the Aug. 15 Polymer Points Live. But he noted that buying trends, the sluggish economy and feedstock pricing made predictions difficult.

Shintech Inc. is running its PVC resin plant in Freeport, Texas, at reduced rates because of a feedstock supply dispute with Olin Corp.

North American buyers of commodity resins could see more price decreases in July, as a result of lower feedstock costs and a slumping economy, senior teporter Frank Esposito said in the July Polymer Points Live.