Page 51 - Plastics News October 2023

BUSINESS NEWS

and beyond. High volumes of material domestic restocking, and undeterred off-grade railcars continued to flow,
changed hands across most PE grades by this year's hurricane season and higher-quality offers were snapped
— the largest deals were in high-den- growing production capacity, said the up at ever-rising levels. Braskem has
sity (HD) PE for Blow Molding and Plastics Exchange. indefinitely idled a line at its Marcus
low-density (LD) PE and linear-low- The PP market was off to the races, Hook, PA, plant while Ineos is still
density (LLD) PE for Film. Availability as the calendar flipped to October. A under force majeure at the only US
for the main commodity grades im- substantial amount of resin transact- PP plant on the West Coast. Tighter
proved, while fringe materials were ed — homo-polymer PP outstripped PP supply/demand dynamics and an
tough to source, including LLDPE for copolymer PP sales, while packaged engaged export market place pricing
Injection, Granular, and Rotomolding, truckloads commanded a nice pre- power gently into the hands of sellers.
as well as LDPE Frac, 2 Melt Bare for mium. LyondellBasell has nominated a 3-cent
Film, and High Flow Injection. margin-enhancing increase for Octo-
PGP cost puts pressure on PP resin ber, which is beyond the pending rise
New PE plant will more than double market
resin output in contract monomer costs, although
Polymer-grade propylene (PGP) held other producers have not followed en
Nova and CP Chem are still under at around the $0.40/lb level; this el- masse, according to the PlasticsEx-
force majeure at selected facilities; evated monomer cost kept upward change.
Baystar, however, just commissioned pricing pressure on the PP resin
its new PE unit in Pasadena, TX, market, which stepped up another Read the full Market Update, includ-
which has an annual capacity of 1.4 cent. Processors, facing another cost- ing news about PGP pricing and en-
billion lbs, more than doubling the push price increase, tapped the spot ergy futures, on the PlasticsExchange
facility's potential resin output. PE market to secure generic prime and website. For a recap of resin pricing
producers are looking to score their off-grade resins, which are still dis- and activity in September 2023, read
third straight 3-cent monthly increase counted to their pending October this analysis by Zachary Moore from
inspired by strong exports and some contract levels. While a tepid flow of business intelligence firm ICIS.

PLASTICS NEWS 5151
October 2023 PLASTICS NEWS