LDPE Spot Prices in the US notice stability in March
Low-Density Polyethylene spot prices throughout March have shown stability mainly due to a relaxation in the price of feedstock ethylene prices. Spot ethylene monomer price dipped by over 21% during the period 25 th February 22 to 18 th March 22. The dip in price was in tandem with the decrease in prices of Natural Gas Liquids (Ethane and Propane) during the same period. Spot LDPE film and Injection grades’ trade volumes saw a spike in the first week of March in expectation of higher future prices in the wake of turbulence in eastern Europe and possible retaliation from the west in the form of sanctions on Russian oil and gas which could cause the prices of Natural gas which would, in turn, increase the prices of Ethylene. Natural gas prices in the US have indeed risen by USD 0.54/MMBtu in the first week of March. While most resin material transacted in March was off-grade, prime quality resin swaps have been very few. Supply tightness in the anti-block and slip additives market p...