PGP Monomer Prices Rally Further
February 01, 2021
Spot PGP monomer prices started Feb with a bang, jumping more than $.07/lb to $.81/lb. It was just a couple of weeks ago that Jan PGP contracts settled up $.12/lb to $.605/lb.
Based on these current spot levels, Feb PGP monomer contracts could increase $.23/lb, but there is still plenty of time for the market to move around before negotiations even begin.
Resin producers have nominated to increase Feb Polypropylene contracts by the change in monomer costs plus an additional $.06/lb, which could equate to a whopping $.29/lb!
Fasten your seatbelts, this ride is accelerating and could get a bit bumpy.
--The Plastics Exchange
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