Production outages push PP prices higher.

Polypropylene resin prices in North America increased by an average of 5 cents per pound in November due to higher prices for polymer-grade propylene monomer feedstock. This increase follows consecutive monthly increases in October and September, resulting in a net increase of 17 cents per pound in 2023. The rise in prices is surprising considering the decline in demand for polypropylene, which was down about 4 percent on a monthly basis in both September and October. In contrast, prices for PVC and polystyrene resins declined in November due to decreased demand. PVC prices are down a net of 1 cent in 2023, while polystyrene prices fell by an average of 4 cents per pound in November. The decline in polystyrene prices is attributed to lower prices for benzene, which is used to make styrene monomer. Overall, the market for polypropylene, PVC, and polystyrene resins is influenced by factors such as production outages, demand fluctuations, and changes in feedstock prices. [Extracted from the article]

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