The global Engineering Thermoplastics market has been turned on its head in the first two months of 2017 as producers and consumers attempt to make sense out of soaring feedstock prices. Resin producers have reacted in the only way possible, through a series of steep price increases, as they look to pass increased costs through the chain. In many cases, consumers have had little choice but to accept large price increases, but face more pressure as they attempt to pass those increases to their downstream buyers.
Feedstock price increases have been supported in some respect by higher crude oil prices brought on by continued strong demand and the decision by OPEC in late 2016 to lower production quotas. In early 2017, these production cuts were being observed by OPEC members, and some non-OPEC producers were showing surprising discipline. Brent crude oil prices were around $55/bbl in February 2017; one year ago, Brent crude prices were closer to $33/bbl.
Overall demand for Engineering Thermoplastics was steady-to-strong in all regions in early 2017, and this trend is expected to continue even with pressure from rising prices…
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