Resin To Riches: Weekly Plastic Market Insights

General Thoughts: Global polymer price strength is stalling as cost-driven gains fade, with fragmented trade, weak demand prospects, and oversupply, signaling fragile margins and limited upside absent a synchronized global recovery.
Polyethylene (PE): Global PE spot prices rose in late June, but mounting supply, fading feedstock support, and stagnant demand suggest recent strength will likely prove short-lived, especially outside North America.
Polypropylene (PP): Global PP spot prices are sliding toward PGP as temporary supply support fades, demand fragmentation persists, and feeble end-market demand undermines the sustainability of recent cost-driven gains.
Polyvinyl Chloride (PVC): Global spot PVC prices remain stable, on average, despite weak demand, as ex-US cost push resistance grows and structural upside hinges on capacity rationalization or a housing demand resurgence.
Other Sector Developments: USGC ethane price weakness in 2Q25 and its low price in early 2H25 are a plus for US integrated ethylene chain producers, as ex-US naphtha prices and US propane markets show more support.

Exhibit 1 – Chart of the Day: US spot PE, PP, and PVC margins enter July higher than their 2Q averages, lower than 1Q.