Plastics News this week reveals a 2 cents downward revision on all grades of high density polyethylene listed in the resin pricing table.
The April HDPE price hike was initially estimated at 9 cents, but the market eventually settled down by 7. That change is shown on this week’s resin price chart. Low-density PE and linear low-density PE prices rose 9 cents a month.
Deliveries of all PE grades remain scarce as manufacturers try to recover from the failures caused by the winter storm Uri in February. PE prices have risen by a total of 28 cents in 2021 and by 48 cents since January 2020. PE manufacturers are aiming for a 5-6 cents per pound increase in May.
Many PE manufacturers are still operating under force majeure sales limits or other types of sales assignments. According to sources contacted by Plastics News, North American PE converters receive 70 percent of their requested purchases.