North American resin prices continue to be extremely dynamic, offering manufacturers of plastics products a unique opportunity to lock in long-term agreements with favorable pricing. Demand for resins will begin to rebound as key industries scale back up, and historically low oil prices are already beginning to trend upwards. Most North American resins saw price declines in April (“COVID-19 drives commodity resin prices down in April”, Frank Esposito, Plastics News, published May 15, 2020). … [Read more...]
How are Historically Low Oil Prices and the Collapsing Global Economy Impacting Resin Costs?
Plastics manufacturers are being hit by the simultaneous forces of supply interruptions, vastly changing demand, and volatile petroleum prices. So far, commodity polymer prices have slid slightly, but there are numerous opportunities to negotiate larger price reductions from resins suppliers if you know where to look. The key factors that determine if the specific resins you purchase are candidates for aggressive cost-downs are: Do you know which resins are more affected by Crude Oil … [Read more...]