Bipolar best describes spot resin trading of late, as activity slowed significantly the week of Dec. 5 from the rapid rate of the previous week, reports the PlasticsExchange (Chicago) in its Market Update. Offers remained heavy through mid-week and then started to dry up. This triggered the first uptick in spot pricing—albeit just a half cent—across the full slate of polyethylene (PE) and polypropylene (PP) grades in more than two months. December could be a tricky month: There have been occasions when material was aggressively discounted through the end of the year, and other times when the month’s main business concluded early, with spot material very hard to source. It is starting to feel that after a strong down-leg, the commodity resin markets could be finding a bottom and that December could be a transition month this year, suggests the PlasticsExchange.
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