Falling oil prices push PE prices down
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Falling oil prices push PE prices down - The global slump in crude oil prices has impacted the North American polyethylene resin market, sending prices down an average of 4 cents per pound
Trade Reports January 2015
Falling oil prices push PE prices down - The global slump in crude oil prices has impacted the North American polyethylene resin market, sending prices down an average of 4 cents per pound
Trade Reports January 2015
Broad Drop in Resin Prices
With feedstock and energy costs dropping globally, commodity and engineering resin prices are following suit.
PE PRICES DOWN
PE prices dropped 3¢/lb industry wide, and further price relief was anticipated into the new year. "Domestic resin prices will continue to track oil prices—up or down.
"People are now buying as needed, as they expect lower prices, and supplier inventories will grow," Domestic PE prices are not likely to bottom out until after the Chinese New Year in mid-February. PE prices this year could be lower than 2013 and 2014 levels. If not, an escalation in imports of finished goods and a halt to reshoring is feared.
Trade Reports January 2015
With feedstock and energy costs dropping globally, commodity and engineering resin prices are following suit.
PE PRICES DOWN
PE prices dropped 3¢/lb industry wide, and further price relief was anticipated into the new year. "Domestic resin prices will continue to track oil prices—up or down.
"People are now buying as needed, as they expect lower prices, and supplier inventories will grow," Domestic PE prices are not likely to bottom out until after the Chinese New Year in mid-February. PE prices this year could be lower than 2013 and 2014 levels. If not, an escalation in imports of finished goods and a halt to reshoring is feared.
Trade Reports January 2015
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