Thursday, October 04, 2007

Polypropylene Market Update, October 1, 2007

The Polypropylene market started out strong on Monday and spot prices continued to firm through the week. Just as many resin contracts had finally settled $.02-.025/lb lower for September (in line with a PGP drop of $.025/lb), October RGP contracts were already being agreed $.02/lb higher, while Oct PGP contracts have been nominated as much as $.04/lb higher. Since resin contracts have been so well correlated to monomer, October Polypropylene contracts will likely also settle higher.

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