What The Trade Is Saying!
New July increase from U.S. resin producers. Distributor demand picks up on price protection buy in.
PE prices moved higher this week but trading was light as participants waited to see if proposed new price increases would stick. Producers had originally proposed an 8 cpp increase in July. Some revised that proposal and are now seeking a 4-cpp increase in July, and an additional 4 cpp increase in August. Plastics Business Analyst July 2009
Good News on the Business Front. Several indicators point to a near-term rebound in production, including the Institute for Supply Management's manufacturing and non-manufacturing indexes, durable goods orders and factory orders. All of these reports show that new orders are increasing or headed in that direction, and inventories are being depleted, a combination that points to an increase in production activity. Trade Reports July 2009