The latest update from The Plastics Exchange came through last night, and there are a few things I thought were worth summarizing and passing on to you.
First, spot resin markets continued to transact heavily the first week of August. The flow of offers was slower while demand for polyethylene was very good amid strengthening sentiment, sending prices higher. Contracts for polyethylene are expected to roll steady in August.
Having said that, polyethylene producers have nominated a $.05/lb price increase for September, leaning on tight supplies largely due to ongoing production issues and the need to procure extra material.
As always, I will keep you updated on any noteworthy developments.
I’d also like to give you a brief update on lead times. We continue to meet 99% of all due dates, but back logs are firming up. If you know you’ll be placing an order at any time in the next few months, now would be a good time to let us know so we can schedule appropriately and ensure you receive your order when you need it.
If you have any questions or comments about this update or anything else at all, please let us know. Thank you for giving us the opportunity to serve you.