Commodity Market Report
Polyethylene North America monthly market overview April 2020
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Report summary
North American total polyethylene production Q1 2020 vs. 2019 levels are up 13.9%, with producers maintaining utilization rates 6% higher than that of Q1 2019. We expect Sasol (LDPE), and Formosa (LDPE) to be delayed further, but slated to start-up in the H2 2020. Domestic consumption in North America for March is currently estimated at 1,135kt. This is down 4.3% Q1 2020 vs. 2019. As impacts from the coronavirus start to hit the end-use sectors of polyethylene, the packaging and consumer industries look to strengthen. Export growth is expected to slow in April and the coming months as global markets start to feel the economic impact of the coronavirus. Domestic polyethylene contract prices fell 4cpp in April for all grades. Spot export prices fell in April for HDPE, LLDPE, and LDPE $97/t, $125/t, and $93/t, respectively.
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