In the recent resin trading market, spot polyethylene prices remained basically flat, while polypropylene (PP) prices soared. According to the forecast of the plastic trading market, PP prices will increase substantially in June. Exports in Latin America and Europe are better than demand, and Asia Traders are still stable buyers.
The current market is flooded with materials such as linear low density polyethylene (LLD) and high density polyethylene (HD), while low density polyethylene (LD) for film and injection is difficult to obtain, although traders have already Satisfactory price. However, the general consensus is that prices of HD and LD are flat, and the price of LLD has fallen by US$0.03/lb. PP transactions are challenged by supply shortages and price increases, and shipments are still below average. The PP contract rose by $0.05 to $0.07 per pound.
It is predicted that the contract price of PP will jump again in June. At the same time, buyers hope to get a cheap offer, but due to the limited supply of resin, sellers do not want to increase supply or even want to raise their asking price. The plastic trading market points out that they PP has been bullish for some time, because the dynamics of supply and demand have changed too closely.