Recycled polypropylene markets were stable in the week leading to Memorial Day weekend, but if the prime polypropylene market is any indication, recycled prices could be heading lower in coming weeks.
Prime polypropylene prices were lower last week as the market remained oversupplied, especially for HoPP grades. In the prime PP contract market, a supplier notified customers last week of a June price decrease.
So far, announced June decreases in the prime PP price are 3 to 5 cents per pound, with HoPP targeted for the larger decrease. May prime HoPP contract prices were seen around 58 to 62 cents per pound railcar delivered, 10 cents per pound or more above spot levels.
In recycled PP markets, HoPP injection-grade MC repro was offered last week at 53 cents per pound FOB East Coast with buying interest at 46 cents per pound. HoPP injection grade black regrind was done at 38 to 41 cents per pound FOB East Coast. Off-grade HoPP injection was assessed at 45 to 47 cents per pound railcar delivered north of Houston at the end of the week.
For a free trial to PCW’s Weekly Recycled Plastics Report, Weekly PVC & Pipe Report or Daily report on prime resins monomers and NGLs, visit the PetroChem Wire website at petrochemwire.com. You can also contact Cindy Bryan at [email protected] or (713) 385-1407.