The spot US high-density polyethylene (HDPE) blowmolding export price fell to a near nine-year low on Thursday following lower pricing from suppliers due to weaker consumer demand, market sources informed SSESSMENTS.COM.
The HDPE blowmolding price declined by $33 from Wednesday to $618-$640/ton (28-29 cents/pound) FAS Houston on Thursday. The railcar pricing was heard at 25-26 cents/pound, the lowest since October 2011. The FAS Houston assessment includes an extra 3 cents/pound representing packaging and transportation costs.
The assessment has decreased by about 11% or $77 so far in 2020. Since a year ago, the assessment has been down by 34.5% or $330. The railcar pricing hovered around the low to mid 30 cents/pound this year. However, it fell to the 20s recently, dragged by diminishing demand for non-essential products as consumers are told to stay at home, while converters shut or run at reduced rates.
