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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who started this subject7/6/2004 6:20:13 PM
From: russwinter   of 110194
 
Buyers view: Look for more resin hikes

Purchasing Staff
Purchasing June 28, 2004


Look for prices of plastics resins to accelerate at a faster rate than prices of their chemical precursors over the next three months, say buyers polled by Purchasing magazine. Some 58% predict that plastic resin prices will rise over the next 90 days, which is in sharp contrast to the outlook for organic chemicals, where only 48% predict prices will rise in the third quarter.

It looks like it’s catch-up time for plastic resin prices, which have not risen as fast as organic chemical tags since the first of the year. It’s hard to explain the difference except that there appears to be more capacity in resins than in the chemicals used to make them. Buyers may also have had better price protection in plastics than in chemicals. Overall resin production was up in the first quarter 3.3%, according to a report from the American Plastics Council. Sales and captive use were down 0.3%. Producers of several types of thermoset-grade resins recently posted increases. Hikes of 12¢/lb were posted for phenolic resins, for example. Specific six-month increase forecasts for buyers surveyed by Purchasing include: ABS, 2¢/lb; polystyrene, 2¢, and polypropylene, 2-5¢
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