Injection-grade HoPP repro and regrind prices were down 2 cents per pound for the week ended Oct. 21 as recycled material competed with offgrade HoPP for market share.
HoPP IM black repro was discussed at 46 to 49 cents per pound with buying interest for good quality offgrade IM HoPP around 48 cents per pound railcar delivered north of Houston (44 cents per pound FOB Houston).
Repro sellers feel the sting of stiff competition from offgrade, which typically is preferred in many markets for quality reasons. HoPP regrind, typically pelletized into repro, was discussed at 32 to 33 cents per pound FOB Midwest last week.
In the prime PP market last week, spot prices were flat to down a penny, and demand remained soft. Buyers remained in destocking mode, with monomer prices expected to fall this quarter on improving supply.
The arbitrage window for U.S. prime PP exports outside North America remained closed, and offshore suppliers were said to be looking for more sales into the U.S. However, the potential for falling U.S. monomer prices made PP imports a risky proposition.
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.