Market Update & Summary April 29th, 2011:
Spot resin market activity slowed a tad from the fervent pace seen during the first half of the month. Resin prices resumed their upward trek amid light spot offerings and still rising energy and feedstock costs. Polyethylene buyers are confirming a $.06/lb rise in April contracts while most PP buyers have endured a $.15/lb jump. Upward pressure remains as producers will seek to lift commodity resin prices again in May.
Up, up and away…resin prices continue to rally with no apparent end in sight. The huge disparity between the price of Natural Gas and Crude Oil has had a significant impact on the market.