Increase in Price for Plastic Products
BARR is going to be implementing a 4-5% increase in nearly all of our plastic-based products by September of this year. This is due to the prices of plastic resins increasing in recent months, changing both the cost of our own plastics manufacturing and fabrication as well as the prices of many of the products we bring in from other manufacturers. This price increase can be avoided (with the exception of Saeplast products) if orders are placed before the end of August. This applies to most of our products, but be sure to call and ask our staff about the specific products you need first for clarification.
Major polyethylene producers, including Dow Chemical Company and Chevron Phillips Chemical Company, have both issued price increases between $0.05-$0.09 in June, July, and August (source). A brand new price increase of $0.05 has also been newly released for September 2020. The industry saw a sharp decrease in prices from March-May, following the same trend many industries experienced during the first months of COVID-19 lockdowns and safety measures; however, we've seen a steady recovery of that price over the summer months as economies start to recover and deal with the effects of the pandemic. If you're interested in reading the full market update from The Plastics Exchange, the report and summary can be viewed here.
Below are some more resources for plastics pricing and news:
(1) Plastics Resin Pricing Links: https://www.plasticsnews.com/resin
(2) Plastics Industry COVID-affected Events Tracker: https://www.plasticsnews.com/news/plastics-industry-covid-affected-events-tracker
(3) Market Price Table (Mid-July): https://www.ptonline.com/blog/post/commodity-resin-prices-rebound
#plastics #plasticsmarket #plasticsindustry #plastictanks #liquidhandling #materialshandling