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Article: PP prices spike in August.(News)
- Article from:
- Plastics News
- Article date:
- August 17, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Frank Esposito
Like a wounded boxer coming off the ropes, North American makers of polypropylene have raised prices with a vengeance since Aug. 1.
The sector looked to be running out of steam after achieving only 1 cent of a 6-cent attempt in July. But in a stunning reversal, 4 cents of a 5-cent attempt now have taken hold in August.
"Producers have been very diligent about managing supplies of resin, said PP market analyst Scott Newell at Resin Technology Inc. in Fort Worth, Texas. "They saw exports drop off and they throttled back production. They know they can't let inventory get out of control on them.
The move is tied in ...