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US PP Spot Prices Stable Following Force Majeure
11/11/2021

Domestic US Polypropylene (PP) spot prices are holding steady this week, following a recently declared force majeure (FM).

Since November 5, PP spot levels have been holding steady at $1.10/lb and $1.20/lb, for Homopolymer and Copolymer respectively, according to The Plastics Exchange.

The stable market comes amid LyondellBasell's FM, announced on Tuesday for 23 grades of PP, which was due to a raw material shortage that was impacting the production of PP grades that use peroxide-based additives.

Although prices have been flat so far this week and PP trading activity has been somewhat limited in early November, PP spot levels have gradually come down $.31/lb from record-high levels in June as producers have rebuilt inventory levels and increased operating rates back to normal levels, alleviating the large spot premiums.

Pinnacle Polymers was the last producer to declare an FM on PP production in early September at its Garyville, Louisiana, following Hurricane Ida. Pinnacle has not formally said if it has lifted that FM, but market participants said the plant is running normally.

By Brian Balboa for The Plastics Exchange.


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