In my last update, I told you resin suppliers were attempting to push through a 4-cent increase for August. That increase did not go through, and now suppliers are talking about 5-cent increases for both September and October.
From The Plastics Exchange‘s latest update:
“The resin markets just quietly eased into September. Spot prices, which have been advancing, took a small step back while participants look to evaluate their 30-60 day resin needs. … While it is way too early to call, given the upward momentum in the spot market, some of the increase could potentially take hold.”
It’s hard to predict if those 5-cent increases will indeed go through considering how flat pricing has been the past few months, but if you check your current inventory levels and find you need to replenish your stock, it might not be a bad time to do so.
As always, if you have any questions or concerns, please call one of our customer service representatives at (800) 272-2634 or send us an email.