In my February update, I mentioned that a resin price increase set for February had been effectively pushed out to March. That was only half accurate. There were some suppliers that delayed their increase on some grades until March, but other grades did indeed show an increase. In the end, it took March’s pricing to smooth things out across grades.
So, for the beginning of this year, we have seen two increases implemented which total 9 cents per pound. To follow these increases, suppliers have put another increase of 4 cents per pound on the table for April resins.
I made my call a little early on the February level (I expected pricing to be flat) in anticipation of rollbacks from other suppliers that didn’t completely pan out.
Calling pricing for the resin market is often best done after the fact. Such is the story of the crystal ball. Consequently, we are often in a “wait and see mode” for a period of time until contracts settle out. That being said, we know of a 4-cent increase for April. As of right now it is indeed in effect, bringing the total increase for resin pricing to 13 cents per pound so far this year.
I will have an update later that will tell whether this increase has taken hold.
Thank you for your continued business, and we look forward to serving you. If you have any questions or concerns, please call one of our customer service representatives at (800) 272-2634 or send us an email.