Polymer Global Analysis
Resin To Riches: Weekly Plastic Market Insights
- General Thoughts: US polymer prices are seeing some support amid curbed production caused by a USGC winter storm spurring spot ethylene and propylene values higher ahead of the 1Q25 USGC turnaround season.
- Polyethylene (PE): Global spot PE prices rose last week, with US spot prices still reflecting lower levels relative to Europe and Asia – US spot HDPE and LDPE reflect more strength than LLDPE relative to their prices a month ago.
- Polypropylene (PP): US spot PP prices fell last week, but rising US PGP values, recent inventory and operating rate shifts, and relative price shifts abroad suggest factors will push up US PP prices in the near term.
- Polyvinyl Chloride (PVC): Global spot PVC prices were flat-to-down WoW amid high inventory and weak demand – strength in US spot ethylene prices favor US PVC price gains before likely demand improvement later this year.
- Other Sector Developments: We highlight Brent crude oil and US natural gas price levels and their YTD trends in 2025 compared to 1Q24, which at the feedstock level imply lower global polymer prices and US margins YoY.
Exhibit 1 – Chart of the Day: US spot PP-to-PGP spread declines WoW but is still on average above Europe and Asia.
Source: Bloomberg, C-MACC Analysis, January 2025
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