The plastics market quietly closed the books on a truly crazy year, reports the PlasticsExchange in its Market Update.
It all started with such promise: Coming off a very negative 2019, characterized by greatly expanded production capacity and associated oversupply that led to major price erosion, the 2020 market began with an uptick. High-density polyethylene (HDPE) and linear-low-density (LLD) PE film resins started 2020 priced in the mid to high $0.30s per pound, and the rest of the PE and polypropylene (PP) commodity-grade resins ran along the $0.40s-per-pound range. Feedstock costs were well under control with ethylene at $0.16/lb and PGP hovering around $0.30/lb. WTI Crude Oil was priced just above $60/bbl.