The various plastic resin types are offered in the market and their prices are tracked by manufacturers, processors and recycling companies. The common resin and plastic types include polypropylene (PP), acrylonitrile butadiene styrene (ABS), ethylene and polyethylene (PE) in its various forms: e.g. HDPE, LDPE, polyethylene terephthalate (PET) etc. among many others.
However, due to covid, prices for plastic resins and materials have risen to historical highs just within the last quarter of 2021. Since December 2020, the unprecedented increase in prices has seen a $0.285/lb rise in high density polyethylene (HDPE) contracts ending around $1.05/lb at the time of this report. And the price is likely to keep increasing in the future.
Some plastic price increases are compounded by increases experienced in their precursor ingredients or raw material. The monomer ethylene with a price spike to $0.425/lb is a good example of this as a precursor to PE. As a result, the price for our main products like plastic pallet, plastic dustbins and plastic pallet boxes will increase in the near future.
