Stretch Film and Plastics Pricing News
Our polyethylene resin suppliers have informed us of a new resin price increase effective February 1st. Factors supporting this resin increase are; improving domestic and global demand, rising feedstock costs. In response to this February 1st resin increase, all new orders received on or after February 24th will be priced at a 7% increase.
(Read Sigma letter)
Alcoa reported higher-than-expected revenue in its first quarterly results, helped partly by a rise in alumina prices. Alcoa said it expects a 6% increase in demand from China, driven by packaging, electrical, transportation sectors. "Rising aluminum prices improved the bottom line," the company said in a statement, adding that margins doubled in one segment. Aluminum prices climbed to a 20-month peak yesterday after reports of potential capacity cuts in China.
RESPECTED MARKET ANALYST REPORTS TODAY
January LLDPE rolls flat (NO CHANGE): Added the following rider ‘As a result of global PE prices starting to rise and spot ethylene trading in the mid 30’s in the final week of January, it now looks like domestic PE producers are going to be successful in achieving the 5 cent price increase they have nominated for February’. One U.S. producer has already announced an additional 6c/lb LLDPE hike slated for March.
LLDPE resin price increase
In addition to the $.05/lb price increase nominated for February Polyethylene contracts, at least one major producer has added a $.06/lb price increase for March implementation.