Resin price increase efforts meeting stiff downstream resistance. Hopes for improved demand on depleted distributor inventories.
Crude prices near $76 per barrel. Weak reports on economy and a stronger dollar send oil prices down. Oil prices have more than doubled from a low of less than $33 touched in December, although they are still well below highs of $147 a barrel touched last year. Natural gas for December delivery fell 7.2 cents to $4.40 per 1,000 cubic feet. Natural gas is used to produce LLDPE stretch film in the U.S.
Business News Reports November 2009
Prices for Polyethylene were up .015 / lb on the back of limited supplies, good export demand and firmer sentiment towards November price increases. Resin producers are seeking to implement $.03 - .05/lb increases for November contracts.Steady, but high asking prices were shown by producers as they dig their heels in, pressing to enforce current price increases.Expo…