Plastic Packaging
HDPE & LDPE
In October, the average price of US HDPE decreased by 4.5% M-O-M and declined by 22.5% Y-O-Y to USc 51.80/lb. Market sources reported a rise in inventories throughout the month, resulting in ample supply across the HDPE market in the US. Additionally, players noted a fall in exports from the US due to anti-dumping legislation implemented by Brazil on the US, resulting in a domestic surplus.
In October, the average price of US LDPE decreased by 2.2% M-O-M and declined by 5.6% Y-O-Y to USc 90.20/lb. Sources reported a situation of depressed demand and strong supply, resulting in a m-o-m price decrease. Furthermore, players noted a weak hurricane season, thus disruption was almost non-existent in plastics manufacturing in the US, ensuring consistent supply.
In October, the average price of US PET increased by 0.6% M-O-M and declined by 6.8% Y-O-Y to USc 60.60/lb. Unlike other plastics products in the US, PET prices ticked up in line with a marginal improvement in demand, with sources anticipating further demand in the lead-up to Christmas from the cooking oil and beverage industries.
In October, the average price of US PP decreased by 2.3% M-O-M and declined by 8.8% Y-O-Y to USc 70.80/lb. According to sources, weak demand again dominated the US PP market. Despite a slight fall in exports, players noted lower capacity utilization among PP manufacturers, further weighing on prices.
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